California Representative Katie Porter, who suffered a defeat in the primary race for the United States Senate in March, has raised concerns about the impact of targeted ads from a political action committee (PAC) on her loss. She believes that these ads, funded by the Super PAC Fairshake and supported by cryptocurrency firms like Ripple and Coinbase, hindered a meaningful national conversation on crypto policy.
During an interview with Pod Save America, which was released on March 19, Porter questioned the motives behind the $10 million spent by Fairshake to undermine her Senate campaign. She pointed out that while the negative ads specifically targeted her, they failed to contribute to a productive discussion about crypto policy.
Porter emphasized that the ads were not conducive to a meaningful dialogue on technology and crypto in Congress. She expressed disappointment that the focus was not on engaging her, understanding her perspective, or reaching a common policy understanding.
Porter had been vying for one of California’s Senate seats but lost in the primary to Democrat Adam Schiff and Republican Steve Garvey. In February, Fairshake released an advertisement claiming that Porter had accepted campaign contributions from “big pharma, big oil, and the big bank executives.” However, the Sacramento Bee rated these claims as “mostly false.”
Porter stated that while it is fair for candidates to discuss crypto-related policies and potential conflicts of interest, attack ads like the ones she faced only served to suppress meaningful conversations and debates on important issues. She believes that blockchain technology has the potential to bring positive change and encourages robust discussions on crypto policy.
In the upcoming November runoff, Schiff and Garvey will compete against each other for the Senate seat, along with other congressional seats that will be up for grabs in the major U.S. election of 2024. Additionally, John Deaton, a lawyer who has represented crypto firms, has announced his intention to challenge crypto skeptic Elizabeth Warren for a Senate seat in Massachusetts.
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