Crypto Billionaire Chris Larsen Backs Democrat Alex Bores with $3.5 Million in Heated New York Congressional Primary
In a significant development ahead of the 2026 Congressional elections, cryptocurrency billionaire Chris Larsen has injected $3.5 million into a super PAC supporting Democrat Alex Bores, who is running in New York’s competitive 12th District primary. This move underscores the intensifying battle over artificial intelligence regulation, as the race increasingly becomes a proxy war between industry factions.
Alex Bores, a New York State Assemblymember, is vying to succeed retiring longtime Rep. Jerry Nadler in a district covering much of Manhattan. Bores has gained attention — and opposition — due to his sponsorship of AI-focused legislation, notably the AI safety RAISE Act, which proposes regulatory guardrails for the burgeoning technology. His approach has drawn ire from leading AI industry players, including OpenAI, whose executives and affiliated groups have actively funded efforts opposing Bores.
Chris Larsen, cofounder of the cryptocurrency firm Ripple and a vocal advocate of AI regulation, told POLITICO that his substantial financial support aims to defend Bores against what he characterized as attempts by OpenAI and others to intimidate a lawmaker striving to impose sensible safety measures on AI. “Unfortunately, some folks in the AI industry are really trying to make an example of Alex for daring to come up with reasonable guardrails to the arms race that we’re all unfortunately in right now,” Larsen said. He emphasized the urgency of implementing safeguards to mitigate AI risks related to child safety, national security, and employment disruption.
Larsen’s super PAC, You Can Push Back, launched its first television ad last Friday, highlighting potential dangers of AI exposure to children and explicitly naming OpenAI as opposing AI safety laws. The ad features a young child staring at a handheld device while a narrator warns that AI could expose children to harmful content such as violence, sexual abuse, and predators.
Despite Larsen’s assertions, OpenAI has denied direct involvement in the political expenditures targeting Bores. A spokesperson, Drew Pusateri, stated, “The company is not involved in the PACs opposing Bores and has not given them money,” adding that OpenAI has pursued robust safety systems and advocated for strong children’s safety regulations since its founding. However, the pro-AI super PAC Think Big, backed by OpenAI executives and major investors including Andreessen Horowitz, has spent over $2 million targeting Bores with independent expenditures.
Bores has also faced critiques from Think Big accusing him of being “bought and sold” by interests including Chris Larsen and the AI regulation-friendly Anthropic, which backs another PAC supporting Bores called Jobs and Democracy PAC. This second PAC has spent around $1 million on the candidate’s behalf. Critics argue these funding sources reflect a network of “dark money fringe tech groups” influencing the primary.
The primary race itself is crowded and high-profile. Aside from Bores and fellow Democrat Micah Lasher — a former aide to ex-New York City Mayor Michael Bloomberg, whose super PAC has spent nearly $5 million supporting him — other contenders include Jack Schlossberg and former Republican George Conway. Schlossberg has been notably vocal against the influence of super PAC spending in the race. Though public polling is limited, internal surveys suggest Schlossberg holds a slight edge.
New York’s 12th District is strongly Democratic, making the primary the critical contest for the November general election. Larsen also indicated that his efforts extend beyond New York’s race; he is backing other candidates nationwide, such as California State Senator Scott Wiener, who is running to replace Nancy Pelosi, with a platform supportive of AI regulation.
As the debate over artificial intelligence’s societal impacts escalates, the New York Congressional primary has emerged as a frontline battle reflecting broader national tensions over how to balance innovation with safety and governance. Chris Larsen’s substantial financial intervention signals how deeply vested influential tech figures have become in shaping policy through electoral politics.
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