A major cryptocurrency-aligned political action committee recorded a strong showing in Tuesday’s congressional primaries, advancing four of five candidates it supported through affiliated spending, yet suffered a high-profile setback in one Florida race despite heavy outlays.

Fairshake and its affiliated committees, Protect Progress and Defend American Jobs, directed roughly $3.6 million toward House and Senate contests in Alaska, Florida and Wyoming. The bipartisan approach yielded primary victories or expected advancement for candidates from both parties, bringing Fairshake’s overall congressional primary record to 49 wins out of 53 contests so far this cycle.

Primary Results Across Three States

Protect Progress, which backs Democrats, spent more than $150,000 on supportive advertising for Representative Lois Frankel in Florida’s 23rd district. Frankel secured the nomination and will advance to the general election in November.

Defend American Jobs, focused on Republican candidates, allocated a combined $1.5 million across three races. In Florida’s 16th district, Sydney Gruters won her primary. In Wyoming, Representative Harriet Hageman prevailed in the Republican primary for the U.S. Senate seat previously held by Senator Cynthia Lummis. In Alaska’s at-large congressional district, Representative Nick Begich is expected to advance after the primary.

All four candidates are positioned to compete in the November midterms.

Costly Defeat in Florida’s 24th District

The exception came in Florida’s 24th congressional district, a heavily Democratic seat. Protect Progress spent more than $2 million on negative advertising targeting Oliver Gilbert, a Miami-Dade County commissioner seeking the Democratic nomination to succeed a retiring incumbent.

Gilbert finished first with 34.4 percent of the vote, defeating Shevrin Jones and Kendrick Meek. Political analysts view him as the strong favorite to win the general election given the district’s partisan leanings.

During the campaign, Gilbert criticized the advertising effort. He described the backers as “crypto con artists trying to buy a Democratic primary” and linked the spending to “Trump’s tech billionaire buddies.”

Gilbert made no reference to the cryptocurrency industry or the advertising in his victory remarks.

Funding Scale and Broader Ambitions

Fairshake entered the 2026 cycle with a reported $193 million war chest as of January, drawing support from major industry players including Coinbase, Ripple and Andreessen Horowitz. By June the committee had already spent more than $82 million on races. In the prior cycle it funded more than $130 million in advertising supporting candidates viewed as favorable to digital assets and opposing critics.

Spokesperson Geoff Vetter framed the latest results as an early step.

Legislative Backdrop

Congress is in recess until September. Upon its return the Senate is scheduled to consider a cloture motion on the Digital Asset Market Clarity Act. The measure passed the House in July 2025 by a bipartisan 294-134 vote and seeks to establish a clearer regulatory framework for digital assets. Some Senate Democrats have called for additional ethics provisions related to the Trump family’s cryptocurrency holdings.

The composition of the next Congress after the November midterms could influence whether the legislation advances or stalls beyond the current session.