Foreign media: Political action committees funded by cryptocurrency company executives will spend millions of dollars in the midterm elections

ChainCatcher news, according to a report by CNBC citing sources, the political action committees (PACs) Web3 Forward and Crypto Innovation, funded by cryptocurrency company executives, are expected to spend at least several million dollars on advertising to support their endorsed candidates ahead of the November 8 midterm elections.

Web3 Forward and Crypto Innovation are funded by GMI PAC, which has received millions of dollars in donations from FTX CEO Samuel Bankman-Fried and the founders of venture capital firm a16z. (source link)