Crypto PAC Spent Millions to Get Alabama Candidate on Path Toward Congress

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
community
and
all
Americans,”
Josh
Vlasto,
a
spokesman
for
Protect
Progress
and
affiliated
industry
PACs,
said
in
a
statement
on
Wednesday.
“We
are
proud
to
support
leaders
like
Shomari
on
both
sides
of
the
aisle.”

Figures,
who
occupied
roles
in
former
President
Barack
Obama’s
White
House
and
once
worked
for
current
Senate
Banking
Committee
Chairman
Sherrod
Brown
(D-Ohio),
said
on
his
campaign
website
that
he
would
“embrace
the
new
landscape
around
digital
assets,
like
cryptocurrency,
to
stimulate
innovation
and
technological
advancement.”

That
was
enough
for
Protect
Progress
PAC
–
an
offshoot
of
the
main
crypto
industry
group,
Fairshake
–
to

target
him
with
a
dominant
level
of
industry
help
in
Alabama’s
2nd
Congressional
District,
which
has
been
held
by
Republicans
but
was

redrawn
before
this
race
to
favor
Democrats.
Figures’
own
campaign
raised
a
little
more
than
$400,000
in
direct
contributions,
according
to
the

most
recent
disclosures
to
the
Federal
Election
Commission.
That
was
slightly
less
than
his
chief
opponent,
Anthony
Daniels,
the
minority
leader
in
the
Alabama
House
of
Representatives,
and
the
records
show
no
significant
PAC
support
for
the
candidates
Figures
faced.

The
industry’s
spending
–
$2.7
million,
according
to
the
committee’s
organizers
–
marked
the
most
the
PAC
has
so
far
devoted
to
a
Democratic
congressional
candidate,
followed
by
about
$1
million
for

Texas
Democrat
Julie
Johnson.
Super
PACs
generally
devote
their
money
to
advertising
in
support
of
a
candidacy
but
aren’t
permitted
to
coordinate
directly
with
the
campaign.

Protect
Progress
and
Fairshake
—
which
disclose
their
contributors,
unlike
another
dark-money
crypto
political
organization,
Cedar
Innovation
Foundation
—
are
backed
by
a
long
list
of
digital
assets
giants,
including
Ripple
Labs,
Coinbase
and
the
investing
duo
Marc
Andreessen
and
Ben
Horowitz.
Unlike
the
campaign
spending
blitz
of
the
last
congressional
elections,
which
had

been
led
by
tens
of
millions
from
former
FTX
CEO
Sam
Bankman-Fried,
this
season’s
giving
has
so
far
been
more
focused
on
a
shorter
list
of
crypto-supporting
politicians
–
a
mix
of
proven
incumbents
and
some
new
candidates
who
are
clearly
friendly
toward
the
industry.

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