Democrat Yassamin Ansari says she has ‘no idea’ why cryptocurrency PAC is backing her in 3rd District. But letter she signed reflects industry and Trump views.
PHOENIX — Tech billionaires are boosting Republican and Democratic candidates’ campaigns across the country with cash.
Their goal, according to non-partisan observers, is to fill Congress and the White House with candidates who support light regulation – if any – on cryptocurrency, the digital currency in an emerging electronic payment system and speculative market.
In the final month of a tight Democratic primary in the Valley’s Third Congressional District, Yassamin Ansari has benefited from $1.3 million in outside spending by a super PAC called Protect Progress, according to filings with the Federal Election Commission.
Protect Progress’ TV ads in English and Spanish promote Ansari.
Outside money from Trump supporters
The outside spending has put Ansari in an awkward position.
In campaign ads, Ansari declares herself a fierce opponent of Republican presidential nominee Donald Trump.
The tech billionaires behind Protect Progress and affiliated PACs have committed to supporting Trump. The crypto PACs are among the largest outside spending vehicles this election cycle.
“I’m not sure what they want,” Ansari said of her PAC supporters during an interview Thursday with 12News.
“I ran for office because I hate Donald Trump. I cannot stand MAGA extremism.”
Ansari: ‘No idea’ why she’s being helped
Ansari said she didn’t know why the tech billionaires decided to put their money behind her.
“I really have no idea,” she said. “I think I’m young. I think I bring effectiveness. I think that I will actually have the ability to understand difficult issues in Congress.”
The day after the interview with 12News, Ansari put her name on a letter that reflects not just the crypto industry’s criticism of federal regulation, but Trump’s as well.
The letter to the Democratic National Committee and “Prospective Presidential Candidates,” dated July 26, urges the party to take a “forward-looking view” of digital currencies such as Bitcoin.
The letter cites the conduct of the U.S. Securities and Exchange Commission for a “public perception that the party holds a negative viewpoint” of Democrats’ approach to cryptocurrency regulation.
Ansari was among several Democratic officeholders and candidates, including Andrei Cherny in the First Congressional District primary, who signed the letter.
On Saturday, the day after the letter was released, Trump promised a gathering of cryptocurrency leaders that he would fire the SEC chairman.
“The moment I’m sworn in, the persecution stops and the weaponization ends against your industry,” Trump said.
Conflict with environmental impact
Ansari also highlights her work at the United Nations to stem climate change.
But according to a United Nations report last year, the production of Bitcoins – the most popular digital currency – has “a hidden dark side… major environmental impacts on climate, water and land.”
As for the environmental threat posed by cryptocurrency, Ansari responded that it’s “absolutely a concern.”
“That’s why we have to regulate these industries,” Ansari said.
“We can’t just avoid the fact that they exist, because they’re going to exist. Emerging technologies are going to come… We need young, smart, effective members of Congress and effective members in all levels of government to be able to engage with these issues.”
Running in majority Latino district
The Third Congressional District is one of two Arizona districts drawn up as a Latino-majority district.
It covers south and west Phoenix, as well as parts of central Phoenix and western suburbs.
The seat is being vacated by five-term Democratic Rep. Ruben Gallego, who is running for the U.S. Senate.
It is rated a safe Democratic seat. The winner of Tuesday’s primary election will be the overwhelming favorite to win the November election.
Ansari served on the Phoenix City Council for three years. She would be the first Iranian-American Democratic member of Congress.
Her chief opponent, Raquel Teran, served as a state lawmaker and as chair of the Arizona Democratic Party. Teran would be a trailblazer as Arizona’s first Latina member of Congress.
Pediatrician Duane Wooten is the third candidate in the race.
Teran pointed to the pro-crypto PAC spending for Ansari at a recent news conference.
“It’s a million dollars that’s being spent in this race by people who are MAGA donors,” she said.
“I fight back. I fight back against corporate interests. I fight back against extremists.”
A PAC supporting Ansari is on air with an ad accusing Teran of accepting money from an ally of Kari Lake, the right-wing Republican Senate candidate and Trump acolyte.
The donor is Stan Barnes, a widely known Republican lobbyist at the Capitol. He gave Teran $1,000 last year, according to campaign finance reports. He has made contributions to both Republicans and Democrats.
According to the most recent campaign finance reports, PAC support for the two candidates is about even, at $1.9 million.
Teran’s major PAC support comes from the Victory Fund and the Congressional Progressive Caucus PAC.
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