Crypto billionaires are puting a very heavy foot on the election for US Senate. So far, they have spent a whooping 7.1 million dollars towards deciding that Raja Kristnamoorthi will be the next Senator from Illinois. The crypto industry certainly wants pay back for their investment which will come in the form of Raja stopping legislation that would regulate the crypto industry. Such legislation is designed to protect us at a time when we need it.
“Fairshake Pac”
In 2023, crypto billionaires formed a dark money pac ironically named Fairshake. The pac entered this election with a staggering 193 million dollars in the bank. Their stated goal is to support candidates who will oppose legislation designed to protect consumers and defeat candidates who are committed to regulation.
Just like the banking industry, crypto should certainly be regulated. Unlike the dollar, it is not tied to any real asset. Crypto always wins while small investors loose. Donald Trump is using the White House to sell his own meme coin. So far he has made billions. The Trump coin has lost 83% of its value. Trump makes money even while the asset continues to wipe out the savings of the little guy trying to save for retirement. That is how crypto works.
Fairshake Pac In Illinois
In this election, the pac has spent roughly 2 million dollars attacking Illinois State Senator Robert Peters who sponsored state legislation seeking to provide minor regulation in our state. As state senator, Peters cannot possibly raise enough money to counter this messaging onslaught.
The pac loves Melissa Conyears Irving who is running for the US Representative seat in the 2nd district. The pac has so far spent 2 million on glitzy positive ads urging voters to cast their ballot for her.
The US Senate Seat
The pac’s biggest investment is in the US Senate race. So far, Fairshake has spent 7 million dollars on cable buys targeting Juliana Stratton who is also a candiate for the seat. The ads falsely tie Stratton to former speaker Mike Madigan.
Choosing Our Elected Officials
The tremendous expenditure against one of Raja’s opponents means the industry is counting on him to look out for their interests in the US Senate. For the massive investment and with more to come, not doubt Raja will do exactly as the crypto industry wants instead of looking out for us.
Robin Kelly Is Clear Choice
US Representative Robin Kelly is not supported by crypto or other big money donors. She has a history of standing up to special interests. Unlike Raja, she is not beholden to the cryto industry and we need her voice in the US Congress.