Protect Progress (Crypto industry) spent $35M on independent expenditures in the 2024 federal elections, and 99% of it helped Democrats (FEC filings through Dec 31, 2024). Counting dollars, not candidates, and only races already called, 100% ended up on the winning side ($30M won, $0 lost).
Outside spending
$35M
On the winning side
100%
$30M
On the losing side
$0
Supporting vs attacking
99% / 1%
$34M for, $240K against
Google says Protect Progress also spent $64K on Google and YouTube ads this cycle (0% of its FEC-reported outside spending). All ad buyers →
Follow the money
Who filled the envelope
Protect Progress reported $4.5M in gifts from people, companies, nonprofits and other PACs. The biggest are below.
- CoinbaseCompany$2.5M (56%)
- Ripple Labs Inc.Company$1.5M (33%)
- Ronald ConwayIndividual$500K (11%)
- John KingIndividual$250 (0%)
Where the money went
Biggest targets, with whether each one paid off.
✓ Backed the winner or attacked the loser ✗ Backed the loser or attacked the winner Result not matched
| Candidate | Race | Spending | Amount | Paid off? |
|---|---|---|---|---|
| Elissa Slotkin | Michigan Senate | Supporting | $10M | ✓ Yes |
| Ruben Gallego | Arizona Senate | Supporting | $10M | ✓ Yes |
| Daniel Helmer | Virginia 10th District (primary) | Supporting | $4.0M | Unknown |
| Shomari Figures | Alabama 2nd District (primary) | Supporting | $1.7M | ✓ Yes |
| Emily Randall | Washington 6th District (primary) | Supporting | $1.5M | ✓ Yes |
| Yaasamin Ansari | Arizona 3rd District (primary) | Supporting | $1.4M | ✓ Yes |
| Shri Thanedar | Michigan 13th District (primary) | Supporting | $1.0M | ✓ Yes |
| Julie Johnson | Texas 32nd District (primary) | Supporting | $962K | ✓ Yes |
| Eugene S. Vindman | Virginia 7th District (primary) | Supporting | $890K | ✓ Yes |
| Shomari Figures | Alabama 2nd District | Supporting | $668K | ✓ Yes |
| Jimmy Gomez | California 34th District | Supporting | $511K | ✓ Yes |
| Andrei Cherny | Arizona 1st District (primary) | Supporting | $415K | Unknown |
Questions people ask
- How much did Protect Progress spend in 2024, and did it win?
- Protect Progress (Crypto industry) spent $35M on independent expenditures in the 2024 federal elections, and 99% of it helped Democrats (FEC filings through Dec 31, 2024). Counting dollars, not candidates, and only races already called, 100% ended up on the winning side ($30M won, $0 lost).
- Who funds Protect Progress?
- Its biggest reported donors in the 2024 cycle were Coinbase ($2.5M), Ripple Labs Inc. ($1.5M), Ronald Conway ($500K), John King ($250), out of $4.5M received from donors tracked here.
- Which candidates did Protect Progress spend the most on in 2024?
- for Elissa Slotkin (Michigan Senate, $10M, won); for Ruben Gallego (Arizona Senate, $10M, won); for Daniel Helmer (Virginia 10th District, $4.0M, unknown).