The leading crypto political action committee has invested in its preferred candidates for the Florida congressional seats vacated by Matt Gaetz, a close ally of President-elect Donald Trump, and Michael Waltz, who was chosen by Trump as a national security advisor. With the House of Representatives having a very slim majority, replacing these two Florida Republicans is crucial for the party's congressional agenda.
Fairshake, a crypto super PAC, has begun spending hundreds of thousands of dollars through its affiliate PAC, Defend American Jobs, to support pro-crypto candidates in the upcoming special elections. The replacement of Gaetz and Waltz is vital, especially since Gaetz resigned from Congress amidst a House ethics investigation into alleged payments for drugs and sex.
Trump has since endorsed Jimmy Patronis, the state's chief financial officer, as his preferred candidate to fill the resulting vacancy. Patronis, who is currently leading in the January 28 primary, has benefited from around $200,000 in ad spending from Fairshake. Additionally, the PAC has committed approximately $500,000 to support state Senator Randy Fine in filling Representative Waltz's vacancy.
Fine recently posted on social media that 'Floridians want crypto innovation!' As a super PAC, Fairshake can purchase ads for or against candidates, as long as they are 'independent expenditures' not approved or coordinated by the candidates. The PAC previously spent $139 million to support 53 allies in the new congressional session, with one in ten sitting lawmakers benefiting from crypto-funded ads. According to Fairshake spokesman Josh Vlasto, 'We are keeping our foot on the gas.' With $103 million in funds still available for the next congressional election cycle, Fairshake is well-positioned for the 2026 races.