Two Republican candidates are supported by at least 1.5 million USD from a political action committee backed by cryptocurrency, working to mobilize voters in Florida's special elections. On April 1, voters in Florida's electoral districts 1 and 6 will decide whether to continue supporting Republican representatives or transfer control to the Democratic Party, something that hasn't happened in the past 30 years. The Defend American Jobs PAC has spent 1.5 million USD on media to support Jimmy Patronis and Randy Fine against Democratic opponents Gay Valimont and Josh Weil.
Although Florida's electoral districts traditionally support the Republican Party, Democratic candidates Valimont and Weil have raised more funds than their opponents. As of March, Valimont and Weil have nearly raised 6.5 million USD and 10 million USD, while Patronis and Fine have only raised 1 million USD each. These figures do not include media spending from PACs like Defend American Jobs or Elon Musk's America PAC, which has spent over 20,000 USD on messaging services.
As of March 31, there are four vacant seats in the US House of Representatives after two Democratic representatives passed away and two Republican representatives resigned. If the Democratic Party retains the two existing seats and gains two seats in Florida, the gap between the Republican and Democratic parties in the House would be 217 to 218, not changing control, but potentially affecting how the House reviews laws and policies.
The US Congress is expected to review a bill structuring the market and regulating stablecoins. Some legislators want to pass both before the August recess. Michigan Representative Shri Thanedar, who benefited from cryptocurrency PAC contributions in the August 2024 primary election, emphasized the industry's influence on future elections. The Protect Progress PAC has spent over 1 million USD supporting him in the primary election.
With many Democratic and Republican cryptocurrency-supporting candidates winning in 2024, according to a Fairshake spokesperson, this PAC will continue to operate strongly in the coming years. Large companies like Coinbase and Ripple Labs have contributed tens of millions of USD to the PAC. As of January, Fairshake reported over 116 million USD to spend on candidates from 2025 to 2026.
