Politics
Crypto-backed PAC plans to aid Ricketts in Nebraska Senate contest
Fairshake, a super PAC backed largely by major cryptocurrency firms and a venture capital company, plans to spend in support of Republican Sen. Pete Ricketts’ reelection bid. The amount is not yet known as Ricketts faces independent Dan Osborn in a race polls have shown to be competitive.
A political network funded largely by cryptocurrency companies plans to spend to support Republican Sen. Pete Ricketts’ reelection campaign in Nebraska, a super PAC spokesperson confirmed Oct. 12.
The network, Fairshake, has not disclosed how much it expects to spend in the race. Its major backers include cryptocurrency companies Coinbase and Ripple, along with venture capital firm Andreessen Horowitz.
Ricketts is running against independent Dan Osborn, a former labor union leader who is campaigning on a populist platform. Nebraska reliably votes Republican, but polls have indicated a closer-than-usual contest as Republicans confront a challenging national political environment.
Fairshake is also spending to support Republicans in Ohio’s Senate race, extending the crypto industry’s political activity across multiple contests. The planned Nebraska spending adds a well-financed outside group to a race where the outcome could test whether Osborn’s appeal can overcome the state’s strong Republican lean.