Cryptocurrency Super PACs Waste $12.8 Million in Illinois Primary Elections
By
speckx
Toasted just enough. A reliable bake, gently seasoned.
Summary
Cryptocurrency industry super PACs spent $14.2 million in Illinois primaries, with 90% ($12.8 million) wasted on unsuccessful efforts to oppose Democratic candidates who won their races. The PACs only succeeded in races where outcomes were already highly likely, and this early spending represents less than 6% of their available funds, suggesting more political spending is coming.
Key quotes
· 4 pulledThe cryptocurrency industry super PACs dumped $14.2 million into the Illinois primaries.
90% of that – $12.8 million – was wasted, in that it went to opposing Democratic candidates who won their primaries.
The PACs' only victories in the state were where they contributed money towards outcomes that were already highly likely.
Sadly this early spending in Illinois used up less than 6% of what the super PACs have on hand, so buckle up for a looong eight months.
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