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Coinbase and Ripple-linked PAC spends $2M on Florida race ads
Protect Progress PAC has spent more than $2 million opposing Democratic candidate Oliver Gilbert in Florida’s 24th congressional district, after his primary rivals were not identified with clear digital asset stances.
Coinbase and Ripple-linked political action committee Fairshake, via its Protect Progress PAC affiliate, has spent more than $2 million on media ads in Florida’s 24th congressional district race, according to Federal Election Commission records cited by Cointelegraph.
The ads oppose Democratic candidate Oliver Gilbert. Cointelegraph reports that a key factor is that, ahead of the PAC’s involvement, no Democratic candidate in the primary appeared to have taken a prominent public position on digital assets, before the ads were released.
The current seatholder, Representative Frederica Wilson, is not running for reelection and voted against the Digital Asset Market Clarity (CLARITY) Act and the GENIUS Act while in Congress, before endorsing Gilbert, Cointelegraph writes.
Cointelegraph also reports that state senator Shevrin Jones, who was ahead of Gilbert in an early August poll, completed a questionnaire with Stand With Crypto and received a “strongly supports” rating, while Gilbert has alleged that the ads are being driven by “tech billionaire” interests and that some ad materials used fake Miami Herald headlines.