Crypto PAC Spent Millions to Get Alabama Candidate on Path Toward Congress [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
The flood of outside advertising may have given him an advantage over a prominent Democratic opponent who raised more in direct contributions. Shomari Figures, a Washington insider with a lengthy progressive resume, didn't pull in the most money in direct contributions as he sought one of Alabama's seats in the U.S. House of Representatives. Still, the crypto-friendly candidate dominated the crowded field of fellow Democrats and then won this week's Democratic runoff with 61% of the vote One potential difference between Figures and his opponents may have been the $2.7 million in behind-the-scenes support from a political action committee (PAC) backed by the cryptocurrency industry, Protect Progress. He drew that spending – known in the field of campaign finance as "independent expenditures" that aren't an official part of a campaign – because he expressed support for crypto. "Shomari believes in working together to support innovation and create good paying jobs for his communit
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