Fairshake-backed groups pour millions into primaries as CLARITY Act talks hit crunch time
Crypto-backed political groups have dumped at least $7 million into key Democratic primary races as lawmakers race to finalize the CLARITY Act before a packed congressional calendar tightens the legislative window.
Protect Progress, an affiliate of Fairshake, is the most visible spender. The group has funneled roughly $5.5 million into the campaign of Maryland State Delegate Adrian Boafo, who is vying to replace retiring Rep. Steny Hoyer in Maryland’s 5th Congressional District. Boafo—who faces more than 20 Democratic challengers—leads prediction-market rankings and has secured high-profile endorsements from Hoyer, Gov. Wes Moore and Sen. Angela Alsobrooks. Alsobrooks has been active in conversations about federal digital-asset bills, including both the GENIUS Act and the CLARITY Act.
Boafo has embraced crypto and blockchain as part of his agenda, saying, “I’m proud to be a strong advocate for policies that create new economic opportunities for Marylanders in the 5th Congressional District, and digital assets are no exception.”
On the East Coast, Protect Progress has also put about $1.5 million behind Rep. Ritchie Torres’s reelection bid in New York’s 15th District. Torres—an early and consistent backer of crypto policy who helped establish the Congressional Crypto Caucus—has additionally received roughly $300,000 in ad spending from Fellowship PAC ahead of the Democratic primary.
These expenditures follow Fairshake’s biggest intervention earlier this cycle, when its political network committed roughly $12 million to Alabama’s Republican Senate primary runoff supporting Rep. Barry Moore. Together, the moves underscore how crypto-funded political organizations are increasingly deploying sizable capital across both parties as federal policymakers deliberate how to regulate the sector.
That deliberation centers on the CLARITY Act, a proposal intended to create a clearer regulatory framework for digital assets in the U.S. Lawmakers and staff are still hashing out committee language, ethics provisions and measures to curb illicit finance, with multiple Senate meetings scheduled as negotiators try to resolve sticking points. White House crypto adviser Patrick Witt and Sen. Bill Hagerty have both expressed optimism that meaningful progress can be made before the July 4 recess.
Industry groups are amplifying pressure. The Digital Chamber has been arranging meetings this week between member companies and lawmakers to build momentum for the bill; CEO Cody Carbone told Crypto In America that urgency is rising as legislative time dwindles. At the same time, Senate Agriculture Committee Chairman John Boozman warned that many senators still need to be educated on the finer points of the proposal—a challenge given that large portions of the bill fall under the Agriculture Committee’s jurisdiction.
Senate offices continue to work through unresolved sections as leaders face mounting pressure to settle outstanding issues before lawmakers leave Washington for the August recess. The outcome will shape both the future of U.S. digital-asset policy and the political calculus for crypto-backed spending heading into the 2026 cycle.
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