Crypto
Cryptocurrency and AI industries tested their influence in the Illinois primary elections. It didn’t go that well
The artificial intelligence and cryptocurrency industries spent big and lost often in this week’s Illinois primaries, an early setback for technology firms that are trying to reshape the midterm elections and establish themselves as power players in American politics.
The companies flooded the state’s Democratic primaries with millions of dollars to promote candidates they believed would have a light touch when it came to regulating technologies that have begun to upend how people do their jobs and manage their finances.
Using super PACs that are allowed to spend unlimited sums of money, they ran television advertising and distributed campaign fliers that only occasionally alluded to their industries. Instead, the messaging focused on promises to combat President Donald Trump’s administration and support liberal policies, a strategy used by other organizations like the American Israel Public Affairs Committee.
But the coy strategy did not stop the AI and crypto industries’ interventions from becoming a lightning rod in the rowdy primaries in Illinois, where there was a rare glut of open seats that led to competitive races.
The crypto-backed political action committee Fairshake spent more than $10 million against Illinois Lt. Gov. Juliana Stratton, who ultimately won the Democratic nomination to succeed Sen. Dick Durbin, D-Ill.
Fairshake and Protect Progress, which is also tied to the crypto industry, spent millions more to unsuccessfully support Stratton’s main rivals, U.S. Reps. Raja Krishnamoorthi and Robin Kelly, according to filings with the Federal Election Commission.
In Illinois’ U.S. House primaries, the tech-backed groups’ campaign spending had mixed results.
State Rep. La Shawn Ford, who had supported state legislation regulating the AI and crypto industries, won the Democratic primary to succeed U.S. Rep. Danny Davis. Fairshake spent nearly $2.5 million opposing Ford’s candidacy in a race that featured at least four other political groups spending against the progressive lawmaker or for his opponents.
Meanwhile, Cook County Commissioner Donna Miller prevailed in the Democratic primary to succeed Kelly after Fairshake spent more than $800,000 against state Sen. Robert Peters, another progressive who supported legislation to regulate the crypto industry.
That race also saw the AI-backed spending at loggerheads.
The AI-backed Think Big PAC invested more than $1 million to boost the candidacy of Jesse Jackson Jr., a former congressman who pleaded guilty in a fraud scandal in 2013. But Jobs and Democracy PAC, another AI-backed group, also mounted about $1 million in negative campaign spending against Jackson during the race.
Think Big is a subsidiary of Leading the Future, a political group that is funded by major Silicon Valley executives, including the venture capitalist Marc Andreessen. Andreessen opposes federal regulations for AI and has been a staunch backer of the Republican president’s AI policies.
Jobs and Democracy PAC, by contrast, is funded by the AI company Anthropic, which favors some safety regulations on AI as the technology develops. Both PACs opposed progressive candidates who called for relatively heavy regulations on the technologies and higher taxes on wealthy Americans.
In a bright spot for the AI industry, former congresswoman Melissa Bean won the nomination to reclaim her old seat after a crowded and intense primary. Bean was supported by about $1 million in funding from AI-backed groups.
“She recognizes that the United States must work toward a national regulatory framework on AI that creates jobs, helps us stay ahead of China, and protects the safety of kids, users, and the community,” said Josh Vlasto, a political strategist for Leading the Future, an umbrella organization for AI political groups. “Leading the Future was proud to support her campaign and looks forward to working with leaders who will prioritize innovation over doomerism.”
The late-stage infusions of cash into the Illinois races totaled almost $20 million across races and served as a declaration of both industries’ political ambitions, raising the stakes in primaries that were already hotly contested.
“Corporate money is being used to paint corporate-backed candidates as fearless progressives,” said Adam Green, co-founder of the Progressive Change Campaign Committee, a political group that works to elect anti-corporate progressives.
“The question for the Democratic Party is whether we elect people who actually believe in these positions or will we elect milquetoast candidates who give lip service to these values but don’t back them in actual policy,” Green said.
Campaign finance experts and rank-and-file voters alike are still struggling with what to make of the technology industry’s political influence.
“They’re so new to the game that public opinion isn’t very well formed about them,” said Brian Gaines, a political science professor at the University of Illinois Urbana-Champaign. “You don’t get a clear signal for who is the progressive and who is the moderate on AI and crypto policies.”
“People are wary of the technology,” Gaines said, “but they don’t know what to think yet.”
___
Maya Sweedler contributed to this report.
Minnesota just signed a law allowing state-chartered banks and credit unions to hold crypto starting August 1, giving traditional financial institutions a regulated path to custody Bitcoin and other digital assets. That clarity arrives as every new cryptocurrency with real exchange tools attracts more capital than speculative tokens still pitching ideas. While banks prepare to safeguard digital assets, Pepeto https://pepetocoin.com/ has raised $10 million from wallets positioning before its expected Binance listing. Here is what the custody news means and why Pepeto could be the defining entry of 2026.
Minnesota Opens the Door for Bank-Held Crypto
Governor Tim Walz signed House File 3709 into law, making Minnesota the first Midwest state to let banks and credit unions offer crypto custody, according to CoinDesk. The law requires client assets to stay separated from bank holdings and mandates cybersecurity reviews before service begins. The Block noted the House passed the bill 130 to 4, showing overwhelming support. When regulated banks start holding crypto for retail clients, the tokens with audited code and working infrastructure gain the most institutional trust, and the ones without it fall further behind.
New Cryptocurrency Entries and the Tokens Set to Lead
Pepeto
Banks entering crypto custody proves the market now rewards verified infrastructure over empty roadmaps. Pepeto https://pepetocoin.com/ fits that mold, with a zero-fee swap engine that lets users trade across any chain without paying fees and a bridge connecting multiple blockchains so liquidity never gets trapped on one network. A trader can enter a position, shift it to wherever the best opportunity sits, and exit without fees cutting into returns.
The raise has passed $10 million at a presale price of $0.0000001871, and a SolidProof audit gives Pepeto the kind of verified security banks and exchanges now require before listing a token. The architect behind the original Pepe coin designed the project, and a former Binance expert is shaping exchange readiness. Early holders are not just buying a token, they are buying a complete trading ecosystem at a price that will never be available again once listing day arrives. With Binance listing approaching, this entry is a fixed window that closes permanently once trading begins. The new cryptocurrency space produces hundreds of tokens every month, but the ones that last are the ones with tools people use, and Pepeto is the only presale at this level delivering a working swap engine, a bridge, and risk scoring before its first day on an exchange.
https://youtu.be/shxO0J94CPw?si=ugvmBXGNLNG73e3H
Solana (SOL)
Solana trades near $84.34 after Goldman Sachs fully exited its SOL ETF positions in Q1 2026, according to BeInCrypto. Wall Street firms like Visa continue moving billions onto Solana for tokenized funds and payments, but the token sits roughly 65% below its peak. Support holds near $77, with resistance at $93 and then $100. SOL remains a top layer-one contender, but climbing back to old highs requires a 3x move that depends on macro conditions and institutional return.
XRP
XRP trades near $1.35 after Goldman Sachs also dumped its XRP ETF exposure entirely in Q1, according to BeInCrypto. Support sits at $1.34, with resistance near $1.48. The CLARITY Act clearing the Senate Banking Committee adds regulatory wind. XRP’s $76 billion cap makes triple-digit percentage returns a challenge that few cycles deliver, and the kind of return that changes a portfolio comes from entries priced before their first exchange listing.
The Bottom Line
Every massive crypto fortune began the same way. BNB launched at $0.15 in 2017 and reached $1,369. ADA sold for $0.0024 and crossed $3.09, multiplying early entries by over 1,200 times. DOGE traded below a penny for years before touching $0.73. The one thing every early buyer shared is they committed while everyone else waited. Pepeto sits in that position today as a new cryptocurrency with $10 million raised, working exchange tools, and Binance listing approaching. Getting in at presale pricing is the kind of move that delivers generational returns, but the clock is running and every day brings the listing closer. Visit the Pepeto official website for the full breakdown.
Click To Visit Pepeto Website To Enter The Presale: https://pepetocoin.com/
FAQ
What makes a new cryptocurrency worth buying in 2026?
The strongest new cryptocurrency entries this year have audited code, working tools, and a clear exchange timeline. Tokens without those rarely survive their first year of open trading.
Are large caps like SOL and XRP still worth holding?
Both offer long-term value, but their large caps limit percentage returns in a single cycle. Presale entries with defined listing dates offer a different return structure.
What is the top new cryptocurrency presale right now?
Pepeto has $10 million raised, a SolidProof audit, and Binance listing expected. Visit the Pepeto official website for the complete project overview.
Disclaimer:
This content is for informational use only and does not constitute financial advice. Investing in cryptocurrencies carries substantial risk and volatility, including the possible loss of your investment. Always perform your own research or consult an advisor before making decisions.
Contact: Dani Bonocci
Website: https://www.tokenwire.io
Phone: +971586738991
SOURCE: Pepeto
Press release distribution
This release was published on openPR.
Crypto
Elon Musk Loses OpenAI Trial, Vows Appeal After Jury Dismisses Claims Over Statute of Limitations
Key Takeaways
Verdict Reached, But Battle Not Over
A federal jury in Oakland, California sided with OpenAI on May 18, unanimously dismissing all claims in Elon Musk’s lawsuit against Sam Altman and the company he co-founded. The jury found that Musk’s claims were filed outside the three-year statute of limitations as district court judge Yvonne Gonzalez Rogers immediately adopted the advisory jury’s verdict.
The lawsuit, first filed in 2024, centered on Musk’s allegation that Altman had broken a foundational promise to keep OpenAI structured as a nonprofit dedicated to the public benefit. The court did not rule on whether that promise existed or was violated and the timing issue rendered the substantive claims legally moot before any evidence on the merits was weighed.
Writing on X shortly after the verdict, Musk called the outcome a “calendar technicality” and confirmed he would take the matter to the Ninth Circuit Court of Appeals. His legal team formally reserved the right to appeal in open court.
Judge Gonzalez Rogers expressed open skepticism in response, indicating she was prepared to dismiss any such appeal given the weight of evidence behind the jury’s finding.
A Two-Year Legal Feud
The verdict is just a single chapter within a broader conflict between Musk and OpenAI that has played out across courtrooms as well as social media because shortly after Musk filed his original suit, OpenAI counter-sued him, accusing Musk of waging a bad-faith legal campaign as a competitive weapon.
Musk founded xAI in 2023, whose Grok model competes directly with OpenAI’s ChatGPT, creating a clear financial incentive behind the litigation that OpenAI’s lawyers leaned on throughout the trial.
The backdrop to the verdict is a company that has continued scaling regardless of the courtroom drama. OpenAI is approaching a $730 billion pre-funding valuation and has targeted a public market debut before the end of 2026. The company made headlines last year (alongside Robinhood) when its name surfaced in a debate over tokenized stocks and equity exposure, a sign of how deeply its footprint now extends beyond pure AI into financial markets.
Musk’s X platform remains one of the most active venues for crypto discourse, and xAI has been actively exploring integrations spanning AI and decentralized applications. In all of this, whether the Ninth Circuit takes up the case remains to be seen because if it declines, the door on Musk’s nonprofit-breach argument closes permanently (at least through the U.S. federal court system).
The new age of AI travel fraud: What to be aware of
The rise of AI is bringing new ways to scam people when booking travel.
A Sioux Falls resident reported on Friday, May 15, a significant incident of fraud that took place on TikTok over the past year.
On Monday, May 18, Sgt. Aaron Benson with the Sioux Falls Police Department said that a 73-year-old woman reported wiring nearly $400,000 to a presumed content creator on the social media platform, in hopes of investing in cryptocurrency.
The victim first sent over $200,000 toward what was believed to be a digital wallet for crypto funds, Benson said. She then later was asked by the same TikTok user to invest in a credit card system, to which the victim agreed and took out a home equity loan to send over another $197,000.
When the victim inquired on the status of the account, the balance was zero, Benson said.
No charges have been made at this point, and Benson said chances of recouping that money are “very slim.”
What you need to know about cryptocurrency
Investing safely in cryptocurrency involves choosing a platform, funding your account and selecting your assets. A user should always need to set up an account to verify identity and banks.
According to previous reporting, the idea that trading should begin with a deposit is slowly being challenged. For beginners especially, committing personal capital before understanding market behavior, risk exposure and execution mechanics can lead to avoidable losses.
“Talk with your family members on the importance of not sending money to people you haven’t met,” Benson said.
But there are ways to protect yourself. According to the South Dakota Unified Judicial System:
- Research the seller, looking for verified badges on the TikTok Shop
- Check seller ratings and positive consumer feedback
- Watch for vague product descriptions
- Use secure payment methods
- Avoid clicking on suspicious links
- Report a potential scam immediately to your bank and the online platform
Although the decision to report a scam is voluntary, the South Dakota Attorney General’s Office says to also report any potential fraud to your clerk of courts office or law enforcement agency. Victims can also visit the Attorney General’s Office website or call their hotline to receive assistance.
In 2025, the Consumer Protection Division said they received “82,000 calls from people reporting they had been victims of scams.”
Also in 2025, the Federal Trade Commission (FTC) found that the state had “one of the lowest fraud rates in the country,” citing 3,575 reports, which is 42% below the national average.
Violations will result in bans, TikTok says
According to TikTok’s Safety Center, an online scam is a “fraudulent or deceitful act that takes place over the internet” and can include the “exploitation of others for some form of monetary gain.”
Their community guidelines state they “do not allow attempts to defraud or scam members of our community” and that repeated violations may result in “account bans.”
Their most common forms of scams include:
- Returns of fake money or free goods and services
- Mobile games scams that involve clicking on a link
- Ponzi or pyramid schemes
- Phishing
- Debt repayment schemes
“This is a reminder to be aware of other people promising money only if you send money first,” Benson said last year. “If you are trying to figure out whether you are going through something similar, reach out to the police department immediately.”
Angela George often covers crime at the Argus Leader in Sioux Falls, South Dakota. Email ageorge@usatodayco.com.
-
Detroit, MI19 minutes agoAfter back-to-back days of severe storms in Metro Detroit, cooler, calmer weather arrives mid-week
-
San Francisco, CA31 minutes agoSurveillance video shows pickpocket crew targeting victims in SF’s Chinatown
-
Dallas, TX37 minutes agoDallas Mavericks Part Ways With Jason Kidd
-
Miami, FL43 minutes agoPatriot League ‘A’ Finalist Marin Priddy Transferring From American To Miami-FL
-
Boston, MA49 minutes agoUnresponsive teenage boy pulled from pond in Andover, Massachusetts
-
Denver, CO55 minutes agoLatest Power Rankings May Reflect NFL’s True View of Broncos’ Schedule
-
Seattle, WA1 hour agoWhat is the cheapest 2026 World Cup match in at Lumen Field in Seattle?
-
San Diego, CA1 hour agoVideo shows man with child dive for cover amid Islamic Center shooting
