US crypto lobby group Fairshake invests $2 million to oppose Congressman Jamaal Bowman's re-election

Fairshake, a political action committee (PAC) backed by prominent crypto companies such as Ripple and Coinbase, has invested more than $2 million against the incumbent in the Democratic primary for New York's 16th Congressional District, according to data from the U.S. Federal Election Commission. The funds are primarily used for media campaigns aimed at preventing Democratic Rep. Jamaal Bowman from being re-elected. As of June 16, outside interest groups have cumulatively invested approximately $9 million to boycott Bowman, who will face Democrat George Latimer in the June 25 primary. Fairshake's campaign does not directly mention cryptocurrencies or blockchain, but instead accuses Rep. Bowman of "promoting dangerous conspiracy theories" throughout his career. According to congressional records, Rep. Bowman has voted against several bills, including the Financial Innovation and Technology for the 21st Century Act (FIT21), which was supported by 71 Democrats and 208 Republicans in the House of Representatives. In addition, he opposed the CBDC Anti-Surveillance State Act and a joint resolution aimed at overturning SEC rules on banks' handling of cryptocurrencies. In contrast, Latimer, a former New York State Senator (2013-2018), has made few or no public statements on digital assets. (Cointelegraph)