Crypto PACs Flood Maryland and New York Primaries With $5.5M Boost for Pro-Crypto Candidates

Crypto-funded super PACs are ramping up spending ahead of Tuesday's Democratic primaries in Maryland and New York, with the industry trying to lock in friendly lawmakers before a key July 4 deadline on the CLARITY Act.

Fairshake-affiliated Protect Progress has spent about $5.5 million supporting Maryland State Delegate Adrian Boafo in the state's 5th District primary. Boafo faces more than 20 Democratic rivals for the seat held by retiring Rep. Steny Hoyer, whom Boafo once managed as campaign manager. Hoyer has endorsed him, along with Maryland Governor Wes Moore and Senator Angela Alsobrooks – who has been involved in digital asset legislation including the GENIUS Act and CLARITY Act.

"I'm proud to be a strong advocate for policies that create new economic opportunities for Marylanders in the 5th Congressional District, and digital assets are no exception," Boafo said in a statement.

In New York's 15th Congressional District, Protect Progress has allocated roughly $1.5 million to support Rep. Ritchie Torres, a co-founder of the Congressional Crypto Caucus. Fellowship PAC has added about $300,000 in advertising for Torres ahead of Tuesday's Democratic primary.

The push follows Fairshake's largest single-cycle expenditure: $12 million in the Alabama Republican Senate primary runoff to help Rep. Barry Moore.

Senate meetings pile up before recess

The spending spree comes as lawmakers try to iron out remaining issues on the CLARITY Act before Congress adjourns for July 4. Talks are focused on committee language, ethics rules, and protections against illegal financing, with the Senate scheduling multiple meetings this week to advance the bill.

White House crypto advisor Patrick Witt and Senator Bill Hagerty have expressed optimism about passing the bill by July 4. The Digital Chamber is hosting meetings between its members and lawmakers this week to push for passage.

"The urgency to act on Clarity is increasing as the legislative calendar shrinks," Digital Chamber CEO Cody Carbone said, per Crypto In America. "We remain committed to getting market structure to the President's desk this year, ensuring the U.S. has a robust regulatory foundation for digital assets."

The CLARITY Act would create a federal framework for digital asset market structure, including rules on stablecoins, crypto exchanges, and decentralized finance.