Crypto-backed PAC spent $2M as Thanedar loses Michigan primary

Donavan McKinney, a Michigan state representative, defeated incumbent U.S. Rep. Shri Thanedar in the Democratic primary for the 13th Congressional District, winning 51.9% to 48.1% as vote totals were finalized Wednesday after Tuesday’s primary.

Protect Progress, a super PAC that ran television and digital ads on Thanedar’s behalf, spent more than $2 million in the race. The PAC is affiliated with Fairshake, an organization backed primarily by cryptocurrency firms Coinbase and Ripple.

Fairshake and its affiliates spent more than $170 million during the 2024 election cycle and continued to fund primary contests this year. An affiliated group, Defend American Jobs, spent over $65,000 on media to support a Republican candidate in a Washington state congressional primary.

McKinney ran as a progressive challenger and received support from the Democratic National Committee and the Democratic Socialists of America. He accused the cryptocurrency industry of “paying my opponent back for helping Trump make over $1 billion since taking office,” an allegation tied to Thanedar’s voting record and financial ties.

Thanedar, a two-term representative, voted in favor of bills including the GENIUS Act and the CLARITY Act. Campaign finance reports show Thanedar invested $3.7 million of campaign funds into cryptocurrency companies and recorded a loss of more than $600,000 in the second quarter of 2026 on those investments.

Protect Progress’ ads highlighted Thanedar’s congressional record and questioned McKinney’s readiness for federal office. McKinney posted on social media, “Washington has spent too long serving billionaires and corporate interests,” and added, “I will always only serve the people I represent.” His campaign did not immediately respond to requests for further comment.

McKinney will face Republican Taras Nykoriak in the November general election. Voters will decide whether the seat remains with Democrats or changes party control. Campaign spending, congressional votes and outside advertising related to cryptocurrency are part of the public record heading into the fall contest.