Crypto prepares pro-Clarity Act ad blitz

First in Punchbowl News. A 501(c)(4) linked to the crypto super PAC network Fairshake will launch a series of national ads in the coming days aimed at shoring up support for the Clarity Act.

The Cedar Innovation Foundation’s seven-figure cable ad buy stretches across three different spots. Two ads are positive, touting support for crypto market structure reform from prominent industry groups.

The third spot is an attack ad aimed at the banking industry, where advocate opposition has delayed the bill’s advancement on and off for months now. (The Clarity Act has plenty of other problems, too.)

The Senate is set to hold an initial vote on the Clarity Act on Sept. 15.

Start with the bad. The Cedar Innovation Foundation’s anti-bank ad accuses the industry of making record profits by “squeezing consumers and small businesses” while they oppose the Clarity Act.

The ad tells viewers American banks are enjoying a “feeding frenzy” of profits — complete with several shots of domestic pigs eating, snorting and squealing. That spot will run on CNBC, MSNOW, CNN, Fox News and Newsmax. Watch it here.

“Now, they want even more,” the ad says. “They’ve unleashed D.C.’s corporate lobbyists to prevent competition and protect their profits by killing the bipartisan Clarity Act.”