PANews, August 2: According to Cointelegraph, filings submitted to the Federal Election Commission (FEC) show that an affiliate of a political action committee (PAC) primarily funded by donations from Ripple Labs and Coinbase has spent over $2 million on media campaigns to support Representative Shri Thanedar in Michigan’s 13th District. The PAC’s spending has doubled since last week’s report, with $884,000 more allocated to ads supporting Thanedar and over $150,000 additional spent on ads opposing McKinney.
Ripple and Coinbase-funded PAC spends over $2 million on Michigan House race
PANewsShare
Summary
A PAC supported by Ripple and Coinbase has spent over $2 million on Michigan’s 13th District House race, according to on-chain news and FEC filings. The group spent $884,000 on ads supporting Shri Thanedar and over $150,000 on messaging opposing McKinney within a week. Federal Reserve news remains separate, but crypto-aligned spending continues to increase in key races.
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