Former president Donald Trump’s selection of Sen. J.D. Vance (R-Ohio), as his running mate is expected to turbocharge the cryptocurrency industry’s spending in the 2024 election cycle.
Vance, who owns up to $250,000 in Bitcoin, is a recent champion of the digital asset industry. During his time in the Senate, Vance has drafted legislation that would rework how the Securities and Exchange Commission and Commodity Futures Trading Commission regulate the crypto community — much to the liking of crypto investors.
Crypto-backed super PACs are already pouring tens of millions of dollars into congressional races.
One pro-crypto super PAC launched in December 2023, Fairshake, has already spent $14.4 million to independently bolster the campaigns of crypto-friendly congressional candidates in the 2024 election cycle. The bulk of that spending has gone to attacking Democratic candidates in primaries but Fairshake has also spent to support candidates on both sides of the aisle.
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Fairshake ended June with nearly $120 million cash on hand, an OpenSecrets analysis of new campaign finance reports filed July 20 found.
On its website, Fairshake pledges to “support candidates committed to securing the United States as the home to innovators building the next generation of the internet.”
“Providing blockchain innovators the ability to develop their networks under a clearer regulatory and legal framework is vital if the broader open blockchain economy is to grow to its full potential here in the United States.”
Since corporations themselves cannot donate directly to political candidates or party committees and individual donors are subject to strict contribution limits, cryptocurrency companies and their executives are taking advantage of making unlimited contributions to super PACs — which are allowed to raise unlimited sums of money to support and oppose candidates thanks to the Supreme Court’s 2010 decision in Citizens United v. FEC.
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Fairshake has received over $46.5 million in donations from Coinbase, one of the largest cryptocurrency exchange platforms in the U.S. A blockchain-based digital payment network called Ripple has also deepened Fairshake’s pockets with contributions totalling $45 million.
Executives at a Silicon Valley venture capital firm called Andreessen Horowitz have given over $44 million to Fairshake since its inception. After Trump’s selection of Vance as his running mate, those executives — Marc Andreessen and Ben Horowitz — told employees that they plan to make large contributions to pro-Trump super PACs in the 2024 election cycle.
Trump — once a staunch critic of cryptocurrency — released his presidential platform saying, “Republicans will end Democrats’ unlawful and un-American crypto crackdown and oppose the creation of a Central Bank Digital Currency.”
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In contrast, President Joe Biden’s administration has taken what some industry players have described as a “hardline” stance on cryptocurrency with the White House pushing for more regulation and appointing Gary Gensler, a former Goldman Sachs investment banker, to chair the SEC.
“We don’t need more digital currency,” Gensler stated in 2023. “We already have digital currency, it’s called the U.S. dollar.”
In the hours following Biden’s announcement ending his campaign, the price of Bitcoin briefly topped
$68,000, the highest increase for the cryptocurrency since June. The crypto community is increasingly curious to see whether Vice President Kamala Harris, who took over Biden’s campaign after his withdrawal from the race, will prolong Biden’s tight clamp on companies like Coinbase and Ripple or forge a new stance altogether.
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Fairshake is affiliated with two super PACs. Defend American Jobs has spent $17.1 million to support pro-crypto Republican candidates in the 2024 elections while Protect Progress has spent $13.5 million supporting Democrats in the 2024 cycle. Together, the three pro-crypto super PACs have over $127.2 million on hand.
Like Fairshake, both of its affiliated super PACs are supported by Andreessen Horowitz, Coinbase, Ripple, and Multicoin Capital.
Since its inception, over $12 million of Fairshake’s spending has gone to oppose two Democratic candidates, Rep. Katie Porter (D-Calif.) and Rep. Jamaal Bowman (D-N.Y.) — both of whom lost their primaries. Fairshake launched attack ads on Porter, who has a history of allying with anti-crypto figures, like Sen. Elizabeth Warren (D-Mass.). Porter’s campaign called the claims in Fairshake’s attack ads “false.”
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“We are making sure the 8 million crypto owners in California – who are disproportionately young voters who support Democrats – know about her hostility toward the technology and how that would hurt American jobs,” said Josh Vlasto, a spokesman for Fairshake, told CoinDesk, a cryptocurrency-focused news site.
Fairshake has supported pro-crypto congressional candidates across the political spectrum and has not yet commented on whether it will be supporting any presidential candidates.
As of July 24, the super PAC has spent over $702,000 to support Democrats including Rep. Steven Horsford (D-Nev.) and Rep. Wiley Nickel (D-N.C.). On the other side of the aisle, Fairshake has spent $551,600 to support Republicans including Rep. Young Kim (R-Calif.) and House Majority Whip Tom Emmer (R-Minn.).
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Emmer and Nickel are cosponsors on multiple pieces of crypto-centered legislation that have circulated in the 117th and 118th Congress, including the Financial Innovation and Technology for the 21st Century Act, and the Digital Commodity Exchange Act — both of which seek to establish a regulatory framework for digital assets.
In a statement about the Financial Innovation and Technology for the 21st Century Act, Gensler wrote, “The crypto industry’s record of failures, frauds, and bankruptcies is not because we don’t have rules or because the rules are unclear. It’s because many players in the crypto industry don’t play by the rules.” He continued, “We should make the policy choice to protect the investing public over facilitating business models of noncompliant firms.”
On July 27, Trump made an appearance at a Bitcoin conference in Nashville, Tenn., where digital asset leaders gathered to discuss the future of cryptocurrency. Attendees had the option of paying $844,600 for an exclusive event after Trump’s keynote — the ticket price being the maximum amount an individual can legally contribute to Trump’s campaign in 2024.
At the event, Trumplaid out his “plan to ensure that the United States will be the crypto capital of the planet and the Bitcoin superpower of the world.”
Joseph Flaherty covers the city of Little Rock for the Arkansas Democrat-Gazette. A graduate of Middlebury College and Columbia University’s Graduate School of Journalism, he has worked for the newspaper since 2020.
Scott Minor, 45, of Elm Street in Jefferson City, Mo., was arrested Friday on suspicion of computer child pornography and sexually grooming a child. Minor was being held Monday in the Benton County Jail with a $150,000 bond set.
Bentonville
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Damond Drake, 52, of West Highland Drive in Rogers was arrested Saturday on suspicion of delivery of methamphetamine or cocaine. Drake was being held Monday in the Benton County Jail with no bond set.
Fayetteville
Cornelius Anderson, 33, of Dawn Street in Fayetteville was arrested Saturday on suspicion of third-degree assault on a family member, third-degree domestic battery, first-degree criminal mischief and theft of property. Anderson remained at the Washington County Detention Center Monday in lieu of $5,000 bond.
Eduard Korshakov, 37, of Prairie Dunes Trail in Fayetteville was arrested Saturday on suspicion of aggravated assault on a family or household member, kidnapping, first-degree false imprisonment, third-degree domestic battery and interference with emergency communications. Korshakov remained at the Washington County Detention Center Monday in lieu of $25,000 bond.
Efrain Quiroz, 29, of North Shamblin Avenue in Fayetteville was arrested Sunday on suspicion of second-degree battery and second-degree endangering the welfare of a minor. Quiroz remained at the Washington County Detention Center Monday in lieu of $25,000 bond.
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Leo Ward, 21, of West Tanner Drive in Fayetteville was arrested Sunday on suspicion of aggravated residential burglary and stalking. Ward was released from the Washington County Detention Center Monday on $25,000 bond.
Rogers
John Jenkins, 21, of Arkansas 351 in Jonesboro was arrested Saturday on suspicion of fraudulent use of credit/debit card. Jenkins was being held Monday in the Benton County Jail with no bond set.
Springdale
Ashlyn Neal, 19, of Powell Street in Springdale was arrested Saturday on suspicion of kidnapping, second-degree battery, endangering the welfare of a minor, resisting arrest and obstruction of government operations. Neal was released from the Washington County Detention Center Saturday on $5,000 bond.
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Jose Neal, 37, of South Powell Street in Springdale was arrested Saturday on suspicion of second-degree domestic battery, third-degree domestic battery, interference with emergency communications and resisting arrest. Neal was released from the Washington County Detention Center Saturday on $5,000 bond.
Skyler Shane, 31, of Highway 62 in Westville, Ok., was arrested Sunday on suspicion of Possession of a Schedule I or II controlled substance with intent to deliver, simultaneous possession of drugs and a firearm, carrying a prohibited weapon and disorderly conduct. Shane was released from the Washington County Detention Center Sunday on $3,500 bond.
University of Arkansas Police Department
Celso Adame-Gallegos, 19 of Jade Street in Springdale was arrested Friday on suspicion of possession of a Schedule VI controlled substance with intent to deliver. Adame-Gallegos was released from the Washington County Detention Center Saturday on $5,000 bond.
LITTLE ROCK, Ark. (KATV) — Arkansas leaders are set to take the stage at the State Capitol Wednesday afternoon for an announcement already drawing statewide attention.
At 1 p.m., Sarah Huckabee Sanders will appear alongside Erika Kirk, the chairwoman and CEO of Turning Point USA, at the Arkansas State Capitol.
While officials with the governor’s office have not yet released details about the announcement, the joint appearance is expected to draw significant attention from political leaders and supporters across the state.
The moment also brings renewed focus to the legacy of Erika Kirk’s late husband, Charlie Kirk, a nationally recognized conservative activist who built one of the country’s largest student political organizations aimed at mobilizing young voters on college campuses.
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In 2025, Kirk was fatally shot during a campus event at Utah Valley University. Authorities say the gunfire erupted during a gathering connected to student political programming, sending attendees scrambling for safety.
Kirk was rushed from the scene but later died from his injuries, sparking shock and an outpouring of reaction from political leaders, students, and supporters across the country.
In the weeks that followed, memorials and tributes appeared nationwide. In Arkansas, supporters and lawmakers honored Kirk’s life and work with a memorial exhibit displayed inside the Arkansas State Capitol, recognizing the influence he had on conservative youth activism and campus politics.
Following his death, Erika Kirk stepped into a leadership role at Turning Point USA, pledging to continue the organization’s mission and expand its outreach to students across the nation.
On Wednesday, Kirk will again be at the Arkansas State Capitol, this time standing beside Governor Sanders for a joint announcement, as leaders gather and the state waits to learn what the two will unveil.
