Crypto and AI super PACs spent $250 million backing midterm candidates, with nearly three-quarters going to competitive races, according to Citation Needed by Molly White. The backed side lost nine of twelve competitive races called so far, spending $74.7 million on losing candidates versus $28.3 million on winners.
The DeAI angle: The losses, including crypto's record $64 million against Sherrod Brown, weaken Fairshake's leverage, which depended on lawmakers fearing well-funded opposition; several AI super PACs also split over how AI should be regulated, showing the industry lacks a unified influence strategy.
A question for decentralized AI firms and projects is whether they should embrace, reject or ignore the political strategies and funding tactics employed by organized groups working on behalf of centralized crypto and AI companies and their venture-capital backers.