Yassamin Ansari, a Phoenix City Council member with strong ties to the cryptocurrency industry, is narrowly leading in the Arizona congressional primary despite facing significant opposition from Sen. Elizabeth Warren (D-Mass.). With approximately 67 votes separating her from her rival, Raquel Terán, Ansari’s lead is shrinking as additional votes are tallied.
The race in Arizona’s 3rd Congressional District has become a closely watched contest due to the substantial financial support Ansari received from crypto-related political action committees (PACs). Ansari’s campaign benefited from around $1.4 million in crypto PAC spending, which either supported her candidacy or targeted Terán. Despite this, the current margin of less than 0.2% falls well below the half-percent threshold for an automatic recount, and Maricopa County still has an estimated 2,089 ballots left to count.
Ansari’s campaign has so far garnered 44.6% of the vote, compared to Terán’s 44.5%. The tight margin suggests that even if Ansari maintains her lead after the first tally, she may face a formal recount before the results are confirmed.
The Fairshake super PAC, which supports candidates favorable to the crypto industry, played a significant role in this race. Fairshake has quickly become one of the largest PACs in the country, utilizing “independent expenditures” to influence political contests under U.S. campaign-finance laws. In Ansari’s case, the PAC’s spending translated to approximately $74 per vote for her campaign. Fairshake’s spokesman, Josh Vlasto, declined to comment on the Arizona race, citing the results as unofficial.
In addition to PAC support, Ansari’s campaign raised $1.9 million in direct donations, reflecting significant backing from the crypto sector. Opponent Terán criticized Ansari for accepting crypto industry funds, which included ads from Fairshake and direct donations from prominent figures such as Cameron and Tyler Winklevoss.
The close race highlights the contentious role of crypto support in political campaigns. Similar issues have arisen in other recent contests, including Shomari Figures’ victory in Alabama and Rep. Katie Porter’s Senate primary defeat. However, concerns about crypto-sector influence have not significantly swayed voter sentiment.
Despite the crypto industry’s substantial financial backing, it faced setbacks in other Arizona races. Fairshake-supported candidate Andrei Cherny did not advance in the Arizona 1st District Democratic primary, and Blake Masters, backed by Fairshake in the 8th Congressional District, finished second in a competitive Republican field.
With more than 20 crypto-friendly candidates potentially securing primary victories this year, the industry’s focus will soon shift to the general elections. While crypto legislation remains pending in Congress, next year’s session may see increased support from newly elected members. As the final primary elections conclude, the crypto industry PAC’s strategies for the general election remain unclear, with Vlasto withholding comments on future plans.
