Crypto PACs Target Key Primaries As Clarity Act Enters Final Negotiating Phase

Millions Flow Into Maryland and New York Primaries

Pro-crypto super PACs are stepping up their spending ahead of two high-stakes congressional primaries on June 23, deploying significant funds in Maryland and New York as part of a broader effort to build a pro-digital-asset bloc in Congress ahead of the 2026 midterms.

@BSCNews reports that Protect Progress, an affiliate of the Fairshake super PAC, has committed $5.5 million to back Adrian Boafo in Maryland's 5th Congressional District, the seat being vacated by long-serving Rep. Steny Hoyer. Federal Election Commission filings show Protect Progress, an affiliate of the Coinbase- and Ripple-backed Fairshake network, paid more than $3.1 million for media supporting Boafo in Maryland's 5th District. An additional approximately $320,000 has been directed toward Rep. Ritchie Torres' reelection to New York's 15th District, which also holds its primary on June 23.

Torres was among the Democratic representatives who broke with the majority of their party to vote with Republicans to pass the Digital Asset Market Clarity Act, also known as the CLARITY Act. He was even a co-sponsor of the legislation, and Fairshake and Protect Progress spent more than $173,000 boosting him in a non-competitive election last cycle.

The Maryland and New York spending follows a pattern of escalating investment across the primary season. Protect Progress previously spent $5 million supporting Democrat Christian Menefee in Texas, contributing to the defeat of incumbent Rep. Al Green, who had voted against both the GENIUS Act and the CLARITY Act. The Fairshake operation also poured a combined $20 million into races in Georgia, Kentucky, and Alabama.

CLARITY Act Races Toward Senate Showdown

The wave of political spending comes as the CLARITY Act itself reaches a pivotal moment in Washington. The Senate Banking Committee advanced the bill with a 15-9 bipartisan vote, moving it closer to a full Senate floor consideration. The CLARITY Act would establish a tailored regulatory regime for crypto in the United States, an idea that carries significant bipartisan support.

The path to passage, however, remains uncertain. The bill needs 60 votes to clear the Senate's filibuster threshold, and with limited session days remaining before the August recess, that window is viewed as the most realistic deadline. The bill's chances also still depend on further negotiations over preventing the abuse of crypto and DeFi technology in financial crimes and the establishment of a government-ethics provision meant to limit the involvement of officials in the crypto industry.

Fairshake currently holds more than $191 million in cash on hand for the 2026 contests, stockpiled from industry donors including Andreessen Horowitz, Coinbase, and Ripple. The scale of that war chest, combined with a clear legislative target, signals that the crypto industry views the 2026 cycle as a defining moment for its regulatory future.

Sources
Crypto PACs pour millions into primaries as Maryland race looms (crypto.news)
Clarity Act clears U.S. Senate committee (CoinDesk)
Crypto industry scores win as Clarity Act clears Senate hurdle (CNBC)