Adrian Boafo wins primary with 32% after $5.5 million crypto PAC spending
Maryland State Delegate Adrian Boafo and several other crypto-backed candidates secured victories in congressional primaries on Tuesday, June 23, 2026, marking a successful expansion of the digital asset industry’s political influence.
Backed by more than $8 million in media spending from industry-aligned political action committees (PACs), these candidates advanced to the general election in Maryland, New York, and Utah. The results highlight the growing impact of groups like Fairshake and its affiliates, which are largely funded by Coinbase and Ripple Labs.
Strategic investments drive results in New York and Utah
In Maryland’s 5th Congressional District, Adrian Boafo won the Democratic primary with 32% of the vote in a crowded 24-person field that included former Capitol Police officer Harry Dunn. The Fairshake affiliate Protect Progress spent approximately $5.5 million supporting Adrian Boafo, contributing to a total of roughly $11 million in outside spending on his behalf.
This heavy investment helped move the candidate into a winning position despite opposition from rivals who campaigned against “spending from crypto billionaires” in the race to replace retiring Representative Steny Hoyer.
The industry’s targeted spending reached into several key states where established and rising politicians faced primary challenges. In New York, the Protect Progress PAC directed significant funding toward incumbent Representative Ritchie Torres, who secured a primary win.
Meanwhile, the Republican-focused affiliate Defend American Jobs spent funds in a Republican primary in Utah, where Representative Blake Moore also emerged victorious. These wins suggest the industry’s strategy of bipartisan support remains a central pillar of its election efforts.
PAC spokesperson Geoff Vetter stated that the Fairshake network “went big and we went early” to assist candidates like Adrian Boafo in climbing the ranks. This level of financial commitment is becoming a defining feature of the 2026 cycle as Brian Armstrong warns finance must move on-chain to stay relevant.
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By securing spots on the November ballot for their preferred candidates, these PACs aim to ensure that the next session of Congress includes voices favorable to digital asset policy.
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With the Maryland and New York results finalized, the industry is expected to turn its attention to upcoming primaries in Colorado and Arizona. Colorado is scheduled to hold its primary on June 30, while Arizona’s follow on July 21.
While Fairshake affiliates had not disclosed significant spending in these specific upcoming races as of Wednesday, the PAC has a history of high-value interventions in both states.
In the 2024 cycle, crypto-aligned PACs poured $10 million into the Arizona Senate race for Ruben Gallego and $2.1 million for Representative Yadira Caraveo in Colorado. As the Clarity Act advances to the Senate, the outcome of these races will determine the strength of the pro-digital asset bloc in Washington.
For now, the industry has demonstrated that its early-intervention strategy can effectively navigate crowded primaries and protect key incumbents while elevating new allies to the national stage.