Crypto-Backed Super PAC Fairshake Launches Attack Ad Campaign against Senate Candidate Katie Porter
Summary:
The Super PAC Fairshake, backed by crypto firms Ripple and Coinbase, has launched an ad campaign against U.S. Senate candidate Katie Porter. The campaign, which cost $2.9 million, alleges Porter accepted donations from big business sectors. Porter, who is running for a Senate seat in California, has previously sought information about the environmental impact of crypto mining. The move by Fairshake comes ahead of the 2024 U.S. elections, when all 435 House seats, 33 Senate seats, and the Presidency will be contested. Despite the accusations, Porter remains defiant, stating Californians won't be fooled by shadowy crypto billionaires.
The Super PAC Fairshake, financially supported by crypto businesses such as Ripple and Coinbase, has launched attack ads on U.S. Senate candidate Katie Porter. As per an AdImpact Politics post dated February 13, a total of $2.9 million has been spent on the ad campaign against Porter, who is running for one of California's Senate seats in 2024. The advertisement alleges that Rep. Porter accepted donations from "big pharma, big oil, and the big bank executives."
Porter, who is running for the Senate seat previously occupied by the late Dianne Feinstein, currently holds a position in the U.S. House of Representatives serving California's 47th Congressional District. Governor Gavin Newsom of California appointed Laphonza Butler to assume Feinstein’s seat until the end of her original term in January 2025.
In October 2022, Porter signed a letter alongside Senator Elizabeth Warren of Massachusetts and other Congressional members, which sought details from the Electric Reliability Council of Texas on the power usage and potential environmental effects of crypto mining. In February 2023, she penned a similar letter demanding information from the U.S. Energy Department and the Environmental Protection Agency.
According to Open Secrets, a government transparency organization, as of December 31, Fairshake had successfully raised more than $85 million and had spent around $19 million, but it remains unclear why Porter was their target. Despite attempts to contact Fairshake for comments, no response was received before publication.
In a post dated February 13, Porter said, "Californians are not fooled. They understand that these shadowy crypto billionaires do not want a pro-consumer voice in the Senate. They are afraid of people who challenge corporate greed and, as a result, they're investing millions into deceptive dark-money ads against me."
Related: A CCI poll suggests that crypto voters could significantly influence the 2024 US elections. The California Senate's 2024 election is scheduled for November 5, with a special primary on March 5. Rep. Porter will be contending with other Democrats, including Rep. Adam Schiff. As per Ballotopedia data, as of December 31, both Porter and Schiff had amassed roughly $25 million and $27 million respectively for their campaigns. The U.S. election slated for 2024 is around nine months away, where all 435 House seats, 33 Senate seats, and the Presidency will be at stake. Crypto exchange Coinbase speculates that California's crypto-centric voters, currently estimated at 8.2 million, will significantly impact the 2024 elections. Efforts to reach Rep. Porter's campaign for comment did not elicit a response before the publication deadline.
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Published At
2/14/2024 1:09:45 AM
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