Mmastodon WorldUS Politics first seen 1 d ago, last 1 d ago, peak #3
Crypto and AI PACs pour money into safe races
Original: But most of the money is backing winners. Crypto and AI PACs spent in 105 contests that were never in doubt, versus 44 c
Crypto and AI industry political action committees concentrated their spending on congressional races that were never competitive, backing candidates in 105 non-contested contests versus 44 competitive ones, according to commentary circulating online. Major networks reportedly did not support a single underdog. Critics say the pattern is a deliberate strategy to reward loyal lawmakers and inflate the committees' claimed success rates rather than sway election outcomes.
Why now: The skewed spending pattern suggests industry PACs are buying influence with guaranteed winners rather than trying to change election results, raising concerns about hidden political leverage.
crypto industry PACsAI industry PACsUS Congress
Evidence
- But most of the money is backing winners. Crypto and AI PACs spent in 105 contests that were never in doubt, versus 44 competitive ones. The major networks didn’t back a single underdog. This is part of a strategy to buy/reward loyalty and pad the PACs’ win rate. # crypto #… · molly0xfff@hachyderm.io · 38
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