Crypto PAC’s $1 million Boost in Virginia Race Challenges GOP Edge

- Crypto PAC backs Walkinshaw with a $1 million spend in key Virginia race. - Democrat looks to flip seat, tighten GOP House majority. On Tuesday, September 9, 2025, Protect Progress PAC launched a $1 million campaign in Virginia’s special election. The spending aims to help Democrat James Walkinshaw tighten the GOP’s slim majority in the House of Representatives. The cryptocurrency-backed political action committee significantly influenced the race to fill the late Representative Gerry Connolly's seat in the 11th congressional district. Protect Progress, an affiliate of the crypto-focused Fairshake PAC, played a pivotal role in helping Walkinshaw secure the Democratic nomination. Federal Election Commission filings reveal a stark disparity in campaign funds, as Walkinshaw has raised over $1 million, while Republican candidate Stewart Whitson has raised approximately $224,000. Neither candidate has centered their platform on digital asset policy; however, Protect Progress’s substantial media campaign spotlights the increasing influence of cryptocurrency-affiliated groups in U.S. politics. Protect Progress operates under the Fairshake PAC network. During the 2024 election cycle, this network allocated more than $130 million to support candidates who favor cryptocurrency-friendly initiatives. Industry giants such as Coinbase and Ripple Labs provide financial backing to the network, signaling the sector’s commitment to shaping legislation and electoral outcomes through strategic investments. Political analysts regard the Virginia race as a bellwether for the growing impact of crypto-backed PACs on American elections. A Democratic victory for Walkinshaw in this left-leaning district would reduce the Republican majority in the House by one seat, further intensifying the stakes. Many consider Walkinshaw the frontrunner in the race. The substantial involvement of cryptocurrency-affiliated groups has broader implications for their ability to influence future elections and policymaking. Protect Progress’s financial backing underscores the industry's capacity to mobilize significant resources for aligned candidates, thereby further embedding cryptocurrency companies into the political process.