Democrat James Walkinshaw has won the party primary for Virginia’s 11th Congressional District, bolstered by over $1 million in support from a crypto-affiliated political action committee, signaling growing influence of the digital asset sector in U.S. politics.
Crypto Money Helps Secure Primary Victory
The Protect Progress PAC, affiliated with the Fairshake super PAC, spent more than $1 million in June on media campaigns backing Walkinshaw’s bid. Fairshake is primarily funded by crypto industry leaders including Coinbase and Ripple Labs, and is a vocal supporter of candidates seen as pro-crypto and pro-innovation.
The Democratic firehouse primary was held to fill the seat left vacant by the late Representative Gerry Connolly. Walkinshaw’s win now advances him to the September 9 special election, where he will compete to represent the heavily Democratic district in Northern Virginia.
Fairshake: Crypto Advocacy Through Political Influence
In a statement following the primary, Fairshake declared:
“We were proud to support a candidate who stood strong in the face of baseless attacks and never wavered in his commitment to innovation and economic opportunity… voters made it clear that support for crypto and blockchain is not just good policy, but a winning political issue across party lines.”
Fairshake and its affiliates have become major players in U.S. elections. During the 2024 federal elections, the group spent more than $130 million backing candidates who favor crypto-friendly legislation or opposing those resistant to digital asset regulation.
A Broader Crypto-Political Strategy Unfolds
The Virginia race is one of several targeted by crypto-backed PACs in 2025. In April, Defend American Jobs, another Fairshake affiliate, spent $1.5 million in special elections for Florida House seats. The network’s involvement reflects a growing trend: shaping policy by supporting candidates aligned with innovation and blockchain regulation.
Fairshake’s war chest remains formidable — with over $116 million in cash reserves, the PAC is expected to play a key role in the 2026 U.S. midterm elections.
Crypto’s Growing Clout in U.S. Politics
According to advocacy group Stand With Crypto, 270 pro-crypto candidates won seats in the House and Senate during the 2024 elections — nearly half of Congress. In parallel, the Senate is moving forward on stablecoin legislation and a comprehensive digital asset market structure bill, both of which are crucial to the future of crypto regulation in the U.S.
What This Means for Voters and the Crypto Industry
The Virginia primary result underscores an emerging reality:
- Crypto has become a mainstream political issue.
- Campaign contributions are driving influence in tight races.
- Pro-crypto sentiment may soon shape the balance of power in Congress.
Walkinshaw’s win also sends a message to other candidates: support for digital innovation can translate into tangible political backing and voter appeal.
Looking Ahead
With a special election set for September 9, all eyes will be on Walkinshaw to see if crypto support can carry him to Washington — and what policies he will prioritize if elected. Meanwhile, Fairshake and its affiliates are expected to ramp up spending and outreach as the 2026 midterm battle lines begin to form.
Disclaimer
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