Pro-crypto PAC spends $1.5 million on two Florida special elections

A pro-crypto PAC is spending big in the April 1 Florida special elections to replace former GOP Reps. Matt Gaetz and Mike Waltz.

The Fairshake-affiliated PAC Defend American Jobs (DAJ) confirmed a $1.5 million ad spend on two Florida special elections.

Why it matters: House Speaker Mike Johnson (R-La.) has a tiny margin and can't afford to lose two safe GOP seats.

Ads will begin today from DAJ for Republican state Sen. Randy Fine, with a $1.2 million buy. Fine faces Democrat Joshua Weil in the race to succeed Waltz, now Trump's national security adviser.
DAJ is also spending $345,000 on ads for Florida CFO Jimmy Patronis' bid to replace Gaetz. Patronis faces Democrat Gay Valimont.

The big picture: The Fairshake PACs had over $100 million already for the midterm elections.

A CoinDesk analysis shortly after the 2024 election showed that it had backed 53 members who ultimately made their way to Congress.
The Fairshake network is largely backed by big crypto firms like Coinbase, Jump Crypto, Ripple and major digital asset investors.