Cryptocurrency and AI industries tested their influence in Illinois. It didn't go that well [View all]

The artificial intelligence and cryptocurrency industries spent big and lost often in this week’s Illinois primaries, an early setback for technology firms that are trying to reshape the midterm elections and establish themselves as power players in American politics.

The companies flooded the state’s Democratic primaries with millions of dollars to promote candidates they believed would have a light touch when it came to regulating technologies that have begun to upend how people do their jobs and manage their finances.

Using super PACs that are allowed to spend unlimited sums of money, they ran television advertising and distributed campaign fliers that only occasionally alluded to their industries. Instead, the messaging focused on promises to combat President Donald Trump’s administration and support liberal policies, a strategy used by other organizations like the American Israel Public Affairs Committee.

But the coy strategy did not stop the AI and crypto industries’ interventions from becoming a lightning rod in the rowdy primaries in Illinois, where there was a rare glut of open seats that led to competitive races.

The crypto-backed political action committee Fairshake spent more than $10 million against Illinois Lt. Gov. Juliana Stratton, who ultimately won the Democratic nomination to succeed Sen. Dick Durbin, D-Ill.

https://apnews.com/article/crypto-ai-spending-illinois-election-influence-1dd012c903fe5092c4133b918ba4c088

Yeah, boys, nobody really likes you. Take that to the bank.