Crypto PAC Invests $1.7 Million in Arizona Democratic Candidates Ahead of Primaries

Protect Progress, a crypto-related political action committee (PAC), has recently announced significant media investments to support Democratic candidates in Arizona. With a total expenditure of $1.7 million, the PAC has dedicated approximately $415,000 to boost the campaign of Andrei Cherny, a former CEO of Aspiration, who is running for Congress in Arizona’s 1st District. This district currently leans Republican, represented by David Schweikert, making Cherny’s efforts crucial in a competitive political landscape.

In addition to the funding for Cherny, Protect Progress invested over $1.3 million to help Yassamin Ansari, another Democrat, in Arizona’s 3rd Congressional District. This district is considered more solidly Democratic compared to the 1st, which adds a layer of complexity for Cherny’s campaign. The investments come just ahead of the Arizona primary set for July 30. Political analysts are paying close attention to these races, particularly given that Arizona is viewed as a swing state in the upcoming 2024 Presidential Election.

Cherny, who co-founded Aspiration, has a background in promoting crypto innovation and sustainability, garnering endorsements from crypto organizations like Coinbase’s Stand With Crypto. The PAC, which aims to support candidates backing the future of web innovation, has raised considerable funds from notable crypto companies. As the primary approaches, the political scene in Arizona remains dynamic, with six candidates competing, including Amish Shah, whose opinions on crypto legislation differ from Cherny’s. The focus now turns to the impact of these media buys and the potential outcomes of the primary election.