Crypto Super PACs and Political Influence

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This chapter examines the role of Super PACs in U.S. politics, particularly focusing on the crypto industry and its advocacy for pro-crypto candidates. It details the operations of Fairshake, the largest crypto-specific Super PAC, and highlights the strategic financial investments made to sway political outcomes. Additionally, the chapter discusses the complexities of these funding relationships and the political motivations behind supporting candidates perceived as regulatory threats to the crypto sector.

Paris Marx is joined by Molly White to discuss why the crypto industry is spending millions on this election cycle and Coinbase’s potential breach of election finance law.

Molly White writes the Citation Needed newsletter. She is the creator of Web3 Is Going Just Great and Follow the Crypto.

Tech Won’t Save Us offers a critical perspective on tech, its worldview, and wider society with the goal of inspiring people to demand better tech and a better world. Support the show on Patreon.

The podcast is made in partnership with The Nation. Production is by Eric Wickham. Transcripts are by Brigitte Pawliw-Fry.

Also mentioned in this episode:

Molly wrote about the Coinbase campaign finance violation and Donald Trump’s Bitcoin conference speech in her newsletter.
Paris wrote about some of the concerns about Kamala Harris’ stance on tech.
Fairshake spent $10 million on attacks ads against Katie Porter in California. It spent millions more targeting Jamaal Bowman and Cori Bush.
The crypto industry hates SEC head Gary Gensler, who is leading the regulatory effort against cryptocurrency.

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