Michigan lawmaker backed by crypto industry loses Democratic primary

A Michigan incumbent backed by major crypto industry spending lost a Democratic primary, Cointelegraph reported. In Michigan’s 13th Congressional District Democratic primary, progressive candidate Donovan McKinney won with 51.9% of the vote, defeating two-term Rep. Shri Thanedar. Thanedar had received more than $2 million in media ad support from a super PAC backed by Coinbase and Ripple, tied to his pro-crypto legislative record. McKinney drew voter support after strongly criticizing the crypto industry’s financial clout as "corporate-interest lobbying," according to the report.