- Blake Masters lost the Arizona primary to Abraham Hamadeh despite a $600,000 boost from crypto PACs.
- Crypto Super PAC Defend American Jobs invested heavily in Masters, but his pro-crypto stance didn’t sway voters.
- Yassamin Ansari leads the Arizona 3rd District race, with crypto PAC support highlighting her pro-crypto legislative stance.
Republican candidate for Arizona 8th Congressional District, Blake Masters lost the election to Abraham Hamadeh. With reports on July 31 saying that Hamadeh got 29.8% of the vote, defeating Masters. Despite strong support from crypto political action committees (PACs), Masters was unable to hold the nomination.
Blake Masters Loses Arizona Primary Despite Crypto Super PAC Support
In the lead-up to the primary, the Defend American Jobs Super PAC, affiliated with Fairshake and Protect Progress, spent approximately $600,000 in media campaigns supporting Masters. Despite this financial backing, Masters’ pro-crypto stance did not resonate enough with voters in Arizona’s 8th District. In May, Masters had promised to be “the biggest champion of crypto DC has ever seen,” hoping to attract votes from the crypto community.
However, Masters acknowledged the defeat by expressing that the outcome was not what they had hoped for, but they had fought hard under challenging circumstances.
Besides supporting Masters, Fairshake and its affiliates have invested over $2 million in Arizona’s congressional races. Their spending included $1.3 million for Democrat Yassamin Ansari in the 3rd Congressional District and $400,000 for Democrat Andrei Cherny in the 1st District. As of July 31, Ansari was leading her race with about 46% of the vote, showcasing the potential impact of crypto-backed financial support.
Yassamin Ansari has expressed her support for pro-crypto legislation and emphasized the importance of leading blockchain and crypto innovation. Her stance contrasts with her opponent, Raquel Terán, rated as “neutral” on crypto policy by Coinbase’s Stand With Crypto initiative. Terán, endorsed by Massachusetts Senator Elizabeth Warren, has been less vocal about her support for crypto innovation.
Crypto Influence on the Political Landscape
Fairshake and its affiliates have been actively promoting candidates aligned with crypto interests while funding attack ads against those opposing them. The group’s influence is not limited to Arizona, as Protect Progress has reportedly spent $3.7 million supporting Democratic candidates in Texas and Alabama, both of whom won their primaries.
The crypto-backed efforts in Arizona highlight the increasing influence of digital asset enthusiasts on American politics. While Masters’ loss shows that financial support alone cannot guarantee electoral success, the strong backing for pro-crypto candidates like Ansari signals a growing trend in political campaigning.
This election season demonstrates that while crypto support is impactful, it does not always guarantee victory. Candidates must connect with voters on various issues beyond digital assets to secure their positions in Congress.
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