US crypto lobby group Fairshake invests $2 million to oppose Congressman Jamaal Bowmans re-election

Odaily News Fairshake, a political action committee (PAC) backed by prominent crypto companies such as Ripple and Coinbase, has invested more than $2 million against the incumbent in the Democratic primary for New Yorks 16th Congressional District, according to data from the U.S. Federal Election Commission. The funds are primarily used for media campaigns aimed at preventing Democratic Rep. Jamaal Bowman from being re-elected. As of June 16, outside interest groups have cumulatively invested about $9 million to boycott Bowman, who will face Democrat George Latimer in the June 25 primary. Fairshakes campaign does not directly mention cryptocurrency or blockchain, but accuses Rep. Bowman of promoting dangerous conspiracy theories throughout his career. According to congressional records, Rep. Bowman has voted against several bills, including the 21st Century Financial Innovation and Technology Act (FIT21), which was supported by 71 Democrats and 208 Republicans in the House of Representatives. In addition, he opposed the CBDC Anti-Surveillance State Act and a joint resolution aimed at overturning the SECs rules on banks handling of cryptocurrencies. In contrast, Latimer, a former New York State Senator (2013-2018), has made few or no public statements on digital assets. (Cointelegraph)