1 hour ago
780
Adrian Boafo has won the Democratic primary for Maryland’s 5th Congressional District, securing a major victory for the cryptocurrency industry’s political ambitions.
The win was encouraged by roughly $5.5 million in spending from Protect Progress, the Democratic arm of crypto super PAC network Fairshake.
How much did crypto PACs spend on Boafo?
Adrian Boafo has won in the crowded 24-person Democratic primary for Maryland’s 5th Congressional District. Former Capitol Police officer Harry Dunn and Quincy Bareebe ran alongside Boafo.
Protect Progress, the Democratic arm of the crypto super PAC network Fairshake, spent approximately $5.5 million to propel Boafo’s win, according to the Associated Press and Federal Election Commission filings.
The total outside spending on Boafo’s behalf reached roughly $11 million when including support from pro-Israel groups. The United Democracy Project, a super PAC tied to the American Israel Public Affairs Committee (AIPAC), contributed $5.7 million to the race, largely to support Boafo.
Boafo’s own campaign raised $1.14 million while Oracle executives, including Executive Vice President Kenneth Glueck and SVP of Government Affairs Josh Pitcock, accounted for $26,500 in direct contributions. Coinbase employees, led by VP of Engineering Jesse Pollak, added $11,500.
Protect Progress also directed smaller sums to oppose Dunn ($172,295) and Bareebe ($98,454), according to Tech Influence Watch, a spending tracker run by independent journalist Molly White.
During the 2024 election cycle, the Fairshake network spent $133 million backing crypto-friendly candidates in both parties. For 2026, the network has raised between $150 million and $200 million from contributors, including Coinbase and Ripple.
Protect Progress has already helped tip other Democratic primaries this cycle. For instance, the PAC spent more than $600,000 supporting Melissa Bean’s winning House campaign in Illinois. Last month, pro-crypto Rep. Christian Menefee won against Rep. Al Green in a Texas Democratic primary runoff after receiving crypto super PAC endorsements.
Each primary victory adds another vote sympathetic to pending legislation like the CLARITY Act, which would draw jurisdictional lines between the SEC and CFTC over digital assets.
However, the same night Boafo won, Rep. Dan Goldman lost the Democratic primary in New York to Brad Lander. Goldman had voted in favor of both the GENIUS Act and the Clarity Act when the House passed the two crypto-related bills last year.
Why did Boafo get millions from crypto PACs?
Boafo’s background and policy positions make him a natural ally for the digital asset industry. He served as Oracle’s director of government affairs starting in March 2021, while simultaneously sitting in the Maryland House of Delegates after taking office in January 2023.
Oracle is a cloud infrastructure provider whose services are used by crypto exchanges and decentralized finance projects.
As a state legislator, Boafo established a strong pro-crypto record. He sponsored House Bill 470, which created a task force to study and make recommendations on the use and regulation of blockchain technology and digital assets in Maryland.
In a 2025 LinkedIn post promoting the legislation, Boafo referred to blockchain as “the future.” Gov. Wes Moore signed the bill into law earlier this year in May.
Boafo also sponsored the Maryland Financial Innovation Act of 2026, which aims to establish clearer regulatory frameworks for digital assets.
The smartest crypto minds already read our newsletter. Want in? Join them.
English (US)