How cryptocurrency executives helped decide the California Senate primary

Laura J. Nelson | (TNS) Los Angeles Times

In the days before the California Senate primary, political ads calling Rep. Katie Porter a fake, an actor and a hypocrite inundated social media platforms and television programs.

The $10 million bill for the advertisements, which were designed to bump Porter out of the race for a rare open Senate seat, was footed by a super PAC called Fairshake that is funded by cryptocurrency companies and their executives.

As primary results rolled in that showed Porter a distant third behind Rep. Adam B. Schiff of Burbank and Republican Steve Garvey, Fairshake boasted that the Orange County lawmaker’s alliance with mentor Sen. Elizabeth Warren, a vocal skeptic of cryptocurrency, had “ended her career in Congress.”