Exclusive: A New PAC Wants Congress to Protect Crypto Developers
The group plans to support lawmakers backing legal protections for blockchain developers as the issue becomes a key flashpoint in the Clarity Act debate
Welcome to the Wednesday edition of the Crypto In America newsletter!
What you'll read: A new PAC launches to back lawmakers supporting legal protections for blockchain developers, putting a key Clarity Act debate front and center; plus Fairshake racks up more wins and BitGo CEO Mike Belshe joins the podcast.
The battle for crypto developer protections is moving from Capitol Hill to the campaign trail.
A new hybrid political action committee called Defend Developers PAC launched Wednesday with a mission focused specifically on championing American crypto developers, DeFi builders and blockchain technologists, according to details shared first with Crypto in America.
The PAC bills itself as the first political organization dedicated exclusively to supporting members of Congress who champion legal protections for developers building blockchain software and decentralized technologies.
The issue has emerged as one of the key flashpoints in negotiations over the Clarity Act, with supporters arguing developers should not be held liable for how their software is used and law enforcement groups warning the protections could make it harder to prosecute bad actors.
It comes as 160 former national security, intelligence, and law enforcement officials signed a letter organized by the Blockchain Association urging Senate leadership to swiftly pass the Clarity Act, arguing that the bill preserves prosecutors' and investigators' ability to pursue illicit activity involving digital assets.
“For too long, developers building decentralized technologies have faced regulatory uncertainty and enforcement actions instead of clear rules and guidelines,” said Gavin Zavatone, founder of DDPAC and policy lead at the DeFi Education Fund, one of the crypto industry's leading DeFi advocacy groups. “While legislation and rulemakings are being written as we speak, for some policymakers there is limited incentive to understand the fundamental nature of software development.”
The group, whose board includes executives from the DeFi Education Fund, Solana Policy Institute, Uniswap Labs, American Innovation Project and Orca Creative, plans to support only incumbent members of Congress, arguing that donor dollars have the greatest impact when directed toward lawmakers already shaping policy.
The PAC said it plans to raise and deploy more than six figures across dozens of congressional races during the midterms, with funding coming primarily from crypto founders, builders and executives with a stake in the future of DeFi regulation.
“Crypto technologists deserve champions in Congress who will go to bat for them,” said Zavatone.
The crypto industry is hosting law enforcement voices on Capitol Hill today. A fly-in organized by the Blockchain Association brings former national security, intelligence, and law enforcement officials to Washington, many of whom signed the letter urging Senate leadership to pass the Clarity Act. The day kicks off with a breakfast briefing, followed by meetings with members and staff from roughly 18 Senate offices.
The group will also host a virtual town hall Thursday featuring congressional and White House leaders, including Senator. Cynthia Lummis (R-WY), Rep. Tom Emmer (R-MN), and White House Crypto Council Executive Director Patrick Witt.
Fairshake Sweeps in California
Meanwhile, crypto's largest industry-backed super PAC continued its winning streak Tuesday, backing a slate of candidates who advanced through their primaries.
Fairshake spent roughly $2.8 million supporting Rep. Zoe Lofgren (CA-18), Mike McGuire (CA-01), Jacqui Irwin (CA-26), Rep. George Whitesides (CA-27), Rep. Ted Lieu (CA-36), Hilda Solis (CA-38), Rep. Dave Min (CA-47), and Rep. Lou Correa (CA-46). Rep. Lateefah Simon (CA-12) advanced uncontested.
The group’s spending also included support for Rep. Bob Menendez Jr. (NJ-08) and Senator Mike Rounds (R-SD), both of whom won their primaries. Rounds secured a whopping 77% of the vote.
Fairshake did not weigh in on crypto skeptic Rep. Brad Sherman’s race to advance to the general election, where he will face Republican Larry Thompson in November in a rematch for California’s 32nd Congressional District seat.
Thompson, a crypto-friendly candidate who picked up endorsements from industry leaders during his 2024 challenge to Sherman, finished ahead of Democrat and former Biden White House official Jake Levine, who also received support from individual crypto donors.
Despite Sherman’s persistent anti-crypto stance, Fairshake may have little incentive to spend heavily against him. Sherman defeated Thompson by more than 32 points in 2024 and remains heavily favored in the deep-blue district heading into November.
Next up, Fairshake turns its attention to Maryland's 5th Congressional District, where it has spent roughly $3.1 million backing State Delegate Adrian Boafo in a crowded Democratic primary set for June 23.
A new poll commissioned by the super PAC found Boafo leading the crowded Democratic primary field with 17% support, up from 5% in April and just 3% before Fairshake began spending in the race.
Boafo also boasts the highest favorability rating in the field at 40%, aided by endorsements from Senator Angela Alsobrooks (D-MD) and Governor Wes Moore.
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The CEO Behind $100B in Crypto Custody on Banking, Stablecoins, and Regulation
This week on the podcast, BitGo CEO Mike Belshe joined us for a wide-ranging conversation on crypto's next chapter.
We discussed BitGo’s IPO, the state of the market, the future of stablecoins, and why Belshe believes banking is headed for its biggest disruption in decades. He also shared his views on Fed master accounts, crypto regulation under the Trump administration, and how BitGo is helping bridge the gap between Wall Street and the digital asset economy.
Watch this episode on all platforms here.
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