Illinois House races test crypto industry influence • OpenSecrets
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Crypto-backed political committees poured $4 million into four Illinois congressional races with success in three Democratic primaries and one loss in a GOP primary. The biggest spenders were political committees founded and funded by two CEOs at FTX, the Bahamas-based cryptocurrency exchange platform. FTX CEO Sam Bankman-Fried announced his plan to spend “north of $100 million” with a “soft ceiling” of $1 billion during the 2024 election cycle. All three Democratic candidates backed by crypto political committees – Jonathan Jackson in the 1st District, Jesús Garcia in the 4th Congressional District and Nikki Budzinski – won their primaries. Some candidates competing to replace retiring Rep. Bobby Rush (D–Ill.), who has held the seat since 1992, pushed back on the crypto money. Source