Super PAC tried to ‘bury a conversation’ on crypto with attack ads — Rep. Katie Porter

cyptouser8 months agoCryptocurrencies News119
25cc9d4a>

California Representative Katie Porter, who lost a primary race for the United States Senate in March, suggested that targeted ads by a political action committee (PAC) may have contributed to her defeat but did not further the national conversation on crypto.

In an interview with Pod Save America released on March 19, Porter questioned the motivations behind $10 million worth of spending aimed at derailing her campaign for the U.S. Senate by Fairshake, a Super PAC backed by cryptocurrency firms including Ripple and Coinbase. According to the California lawmaker, negative ads by Fairshake specifically targeted her but failed to promote what could have been a productive discussion on crypto policy.

“This wasn’t actually a conversation that I think we should be having about crypto, about technology in Congress,” said Porter. “This wasn’t about crypto policy. This wasn’t about engaging me, seeing what I think, teaching me, coming to a policy understanding.”

Porter had been running for one of California’s two seats in the U.S. Senate but lost in a March primary to Democrat Adam Schiff and Republican Steve Garvey. Fairshake released an ad spot in February claiming Porter took campaign contributions from “big pharma, big oil, and the big bank executives” — claims the Sacramento Bee rated as “mostly false.”

Related: ‘Flood of money’ from crypto Super PACs could fund potential challenger to Elizabeth Warren

The California representative said while asking about crypto-related policy and potential conflicts of interest was fair game for candidates, attack ads like the ones she faced “bur[ied] a conversation” rather than creating a debate on issues. She said that she believed blockchain technology can be a force for good and encouraged robust discussions on crypto policy, adding:

“They don’t know what my crypto views are because they never asked.”

Schiff and Garvey will face each other in a November runoff when other seats in Congress will be up for grabs as part of a major U.S. election in 2024. John Deaton, a lawyer who has represented crypto firms, announced his intention to run against crypto skeptic Elizabeth Warren for one of Massachusetts’ Senate seats.

Magazine: Opinion: GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’

The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Starknet explains reasons for 4-hour block outage

Starknet explains reasons for 4-hour block outage

1205f261˃Ethereum layer-2 protocol Starknet suffered a block reorganization that led to a backlog of...

BitMEX co-founder must face suit over ‘God Access’ trading desk, judge rules

BitMEX co-founder must face suit over ‘God Access’ trading desk, judge rules

1205f261˃Crypto exchange BitMEX co-founder Ben Delo is set to face a class-action lawsuit from excha...

BRC-20 tokens bleed ahead of Bitcoin halving as trader focus shifts to Runes

BRC-20 tokens bleed ahead of Bitcoin halving as trader focus shifts to Runes

1205f261˃The two largest BRC-20 tokens saw over 40% declines on the weekly chart, days ahead of the...

BIS and 7 central banks to explore asset tokenization through Project Agora

25cc9d4a˃The Bank for International Settlements (BIS) has teamed up with the central banks of France...

Bloomberg analysts revise ETH ETF approval odds to 75% amid rumors of SEC flip

The SEC has asked spot Ethereum ETF applicants to update their 19-b4 filings, leading to greater opt...

SEC has 'very low' odds of winning against Uniswap: Crypto lawyer

1205f261˃Well, it happened. We’ve known for a year the Securities and Exchange Commission was conduc...