Bankman-Fried-supported candidate loses even after spending millions on campaign

Andrea Salinas has won the Democratic primary election for the newly constructed United States House of Representatives seat in Oregon’s 6th District. 

A political newbie could not beat a local politician with a long career despite record spending in a Democratic House primary.

Who got how many votes?

Salinas received 38% of the vote, with Flynn coming in second with 19%, and the rest votes were shared among seven other candidates.

The election has been the subject of intense media attention almost since it began, with the focus most commonly on Salinas’ opponent Carrick Flynn, whose campaign was heavily supported by the Protect Our Future political action group (PAC), which is backed by wealthy FTX CEO Sam Bankman-Fried. 

A rush of advertising in support of Flynn was paid for by the PAC.

Strong political history vs strong support

Salinas had a strong political history, having served three terms in the state House of Representatives representing Portland’s affluent Lake Oswego suburb. 

She previously worked as a legislative aide in Washington and for an Oregon environmental organization. Flynn, a native of Oregon who left after graduating from college in 2008 and returned in 2020, was rescued from obscurity thanks to the PAC’s help.

The House Majority PAC, which is closely affiliated with House Speaker Nancy Pelosi, also gave Flynn $1 million in support. 

Elizabeth Warren retaliated by supporting Salinas. In a poll issued on May 7, Flynn appeared to be a strong competitor. 

A few days later, Protect Our Future shifted its advertising strategy, turning from ads focusing on Flynn’s rough rural childhood to attacks on Salinas, accusing her of being manipulated by the pharmaceutical industry.

Protect Our Future’s declared mission is to “assist in the election of candidates who take a long-term approach to policy planning guided by a set of essential values” that include pandemic prevention and faith in science. 

These ideas are similar to effective altruism, a philosophical tendency that both Flynn and Bankman-Fried are known to admire.

The war 

Flynn’s election opponents banded together to attack him, and local media focused on Flynn’s shaky ties to the state, his erratic voting record, and the allegedly shady motivations of the PAC that backed him. The controversy quickly gained national attention.

“Whether Flynn becomes an active player in state or local political initiatives will determine his political destiny in Oregon,” Moore added. 

“If he doesn’t, he’ll be remembered for the moment a bitcoin millionaire and the House Majority PAC attempted to snare Oregon’s new district for reasons that were never made explicit during the campaign.”

Protect Our Future’s large financial contributions have caused controversy in prior election campaigns.

An opponent of Jasmine Crockett in Texas District 30 exploited the PAC’s money in commercials. The PAC has given Crockett almost $1 million. 

Protect Our Future is one of the PACs voting in Georgia’s 7th District election between Democratic candidates Carolyn Bourdeaux and Lucy McBath.

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Nancy J. Allen
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Source: https://www.thecoinrepublic.com/2022/05/19/bankman-fried-supported-candidate-loses-even-after-spending-millions-on-campaign/