Crypto PAC pours another $1M into Michigan House raceMichigan incumbent Shri Thanedar’s re-election bid against other Democratic candidates is getting more about crypto with an infusion of ads funded by an industry-aligned PAC.

An affiliate of the Protect Progress PAC, largely funded by cryptocurrency companies Ripple Labs and Coinbase, has significantly increased spending on media ads supporting Michigan Representative Shri Thanedar ahead of the state’s 13th Congressional District primary race. According to Federal Election Commission filings, the PAC had spent over $2 million to back Thanedar and oppose his Democratic challenger, Donavan McKinney. The most recent filings nearly doubled the reported media expenditure from a week earlier, adding $884,240 to support Thanedar and over $150,000 to oppose McKinney.

Thanedar’s congressional record shows voting in favor of crypto-related legislation such as the GENIUS Act, which focuses on stablecoins, and the Digital Asset Market Clarity (CLARITY) Act under Senate consideration. He also cosponsored the Promoting Innovation in Blockchain Development Act to protect blockchain developers. McKinney criticized the PAC’s spending in a July 21 statement, alleging that “the crypto lobby is paying my opponent back for helping Trump make over $1 billion since taking office,” seemingly referencing former President Trump’s disclosed $1.4 billion earnings from crypto investments projected in 2025, including from the memecoin Official Trump and his family’s business.

Protect Progress is an affiliate of Fairshake PAC, which has been a major player in crypto-aligned political spending during the 2024 election cycle, responsible for over $170 million spent supporting candidates with favorable stances toward cryptocurrency policies. Fairshake and its affiliates have already invested millions in upcoming 2026 races across several states, including Texas and Illinois. In addition to Michigan, Fairshake affiliates have spent notable sums in concurrent primaries, such as supporting a Washington Republican candidate with over $65,000 and backing a former Alabama congressman with over $511,000 in media expenditures.

The article highlights that Fairshake and its affiliates accounted for more than $82 million of the approximately $189 million that crypto companies spent on the 2026 election cycle as of June. Fairshake reported holding a $193 million war chest at the start of the year. The ongoing financial involvement of PACs aligned with the crypto industry illustrates the growing political influence digital asset companies wield in federal elections and legislative agendas. Cointelegraph sought comments from both Thanedar’s and McKinney’s campaigns but did not receive immediate responses.