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A crypto-backed PAC just dropped another $884,000 into Michigan’s 13th Congressional District race — and it’s not slowing down. Protect Progress PAC, tied directly to Ripple Labs and Coinbase, has now pushed its total media spend past $2 million in support of incumbent Representative Shri Thanedar, who faces Democratic challenger Donavan McKinney in the primary.
The new Federal Election Commission filings show the $884,240 figure as a fresh injection, basically doubling what the PAC had already committed within a single week. That’s a fast escalation. On top of the pro-Thanedar ads, Protect Progress also dropped more than $150,000 on ads going after McKinney directly. Two fronts, same war chest. Thanedar, for his part, has backed a string of crypto-friendly legislation during his time in office — the GENIUS Act, the Digital Asset Market Clarity (CLARITY) Act, and the Promoting Innovation in Blockchain Development Act, which he co-sponsored. That’s a pretty clear record, and the PAC seems to be betting on it.
McKinney isn’t staying quiet.
He’s pushed back hard, arguing the crypto lobby is basically rewarding Thanedar for helping former President Trump profit from his crypto holdings. Trump’s earnings in 2025 reportedly cleared $1.4 billion, with a chunk of that tied to his memecoin, Official Trump (TRUMP). Whether that framing sticks with voters in the 13th is unclear, but McKinney’s campaign is leaning into it. Attempts to get a response from either the Thanedar or McKinney campaigns about the PAC spending went unanswered.
Fairshake’s War Chest and the Bigger Picture
Protect Progress doesn’t operate alone. It’s an affiliate of Fairshake PAC, which spent over $170 million during the 2024 election cycle backing crypto-friendly candidates. Fairshake came into the current cycle with a reported war chest of $193 million as of January — serious money by any measure. Public Citizen, the consumer advocacy group, put some numbers to the broader picture: Fairshake and its affiliates accounted for more than $82 million of the $189 million that crypto companies collectively spent on 2026 elections. That’s a dominant share.
And Michigan is just one piece of it. Fairshake’s affiliate network has been active in Texas and Illinois too, targeting races where the outcome could tilt toward candidates who support crypto-aligned policy. The strategy isn’t subtle — find candidates with a record of backing digital asset legislation, fund them heavily, and repeat across states.
Not every race is as high-profile as Thanedar’s, but the dollar figures elsewhere are still notable.
Alabama and Washington Join the Spending Map
In Alabama’s 1st congressional district, Fairshake’s Defend American Jobs PAC has spent more than $511,000 on media campaigns supporting Jerry Carl Jr., a Republican and former representative. Carl’s reported net worth ran as high as $15 million in 2023, which made him one of the wealthier members of Alabama’s House delegation. The PAC’s investment there signals a long-term play, not just a one-cycle experiment.
Washington State’s 4th congressional district is also on the map. Defend American Jobs PAC put over $65,000 into media support for a Republican candidate there — smaller than Alabama, but still part of the same coordinated push to build a friendlier legislative environment for the crypto sector.
The pattern is pretty consistent. Fairshake and its affiliates identify candidates who’ve shown a willingness to vote for crypto-related bills, then funnel money in before primary day. It’s a targeted approach, and the scale of it — $193 million in reserve, $82 million already deployed in 2026 races — means these PACs can sustain pressure across multiple states simultaneously without stretching thin.
What’s less clear is how voters in places like Michigan’s 13th are actually responding. The district has its own economic concerns, and whether crypto PAC money becomes a liability or a non-issue for Thanedar probably depends on how McKinney plays the attack. He’s framing it as a Trump-adjacent corruption story. That’s a gamble.
Fairshake’s affiliates spent over $170 million in 2024 and won a lot of those races. The crypto industry didn’t build a $193 million war chest to lose it quietly.
Protect Progress has spent more than $150,000 opposing McKinney directly, with total pro-Thanedar spending now past $2 million.
Frequently Asked Questions
How much has Protect Progress PAC spent in Michigan’s 13th Congressional District?
Protect Progress PAC has spent over $2 million on media campaigns supporting Shri Thanedar, including more than $150,000 on ads opposing challenger Donavan McKinney, per Federal Election Commission filings.
What crypto legislation has Shri Thanedar backed in Congress?
Thanedar supported the GENIUS Act and the Digital Asset Market Clarity (CLARITY) Act, and co-sponsored the Promoting Innovation in Blockchain Development Act.
