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Crypto Industry Expands Political Spending Across Texas Races

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Fairshake, a prominent crypto-focused Super PAC, deploys millions to support candidates in Texas primary runoff races.
Tether-backed Fellowship PAC invests $500,000 in advertisements to back Attorney General Ken Paxton’s Senate campaign.
Crypto organizations, including Fairshake and Fellowship PAC, financially back both Republican and Democratic candidates in Texas contests.

Political groups funded by cryptocurrency investments significantly increased their spending in several key Texas primary runoff elections this week. This suggests the crypto industry is becoming more involved in state and national elections, particularly as the 2026 midterm elections approach.

Journalist Eleanor Terrett reported on X that the recent funding came from several industry groups, specifically political action committees like Fairshake and Fellowship PAC, which is backed by Tether.

As an analyst, I’m tracking some interesting developments in the Texas primary runoffs. It appears the $2.5 trillion cryptocurrency industry is making its presence known, with several crypto-backed Political Action Committees (PACs) actively funding campaigns in key competitive races. Specifically, I’m seeing investment from groups like the Fellowship PAC, which is backed by Tether, and will be providing a breakdown of their activity.

— Eleanor Terrett (@EleanorTerrett) May 26, 2026

As part of my research, I’ve found that cryptocurrency groups are spending money in several Texas congressional and Senate races, and interestingly, they’re supporting candidates from both the Republican and Democratic parties.

Fairshake deploys millions across Texas contests

Fairshake, the biggest Super PAC network focused on cryptocurrency in the U.S., started 2026 with around $193 million to spend on campaigns. According to a post on X from Terrett, they’ve already spent millions supporting candidates in Texas.

A significant amount of money was spent in Texas’ 18th Congressional District. The group Fairshake and its allies reportedly spent around $6.5 million to help Democrat Christian Menefee, and over $2.5 million working against current Representative Al Green.

The network invested around $1.8 million in several Republican primary runoff elections. This included financial support for candidates like Alex Mealer (Texas’ 9th District), Tom Sell (19th District), Carlos De La Cruz (35th District), and Bonck, who was running in the open 38th District race.

Tether-backed PAC supports Paxton

Fellowship PAC, which is funded by Tether, spent half a million dollars on ads to support Ken Paxton’s challenge to Senator John Cornyn in the Senate race.

This new ad campaign happened after Donald Trump publicly supported Paxton, and followed the PAC’s earlier decision to cancel a $1.75 million ad buy for him earlier in the year.

This spending shows that groups focused on cryptocurrency are becoming more involved in important Republican elections, especially those that could impact future laws around finance and digital assets.

The Crypto Times contacted Fellowship PAC for a statement, but they haven’t responded yet.

New crypto advocacy groups enter elections

The Blockchain Leadership Foundation, a group funded by the blockchain industry, has also contributed to Texas political campaigns, donating to candidates from both major parties.

The group donated an unknown sum to Menefee’s campaign in Texas’ 18th District. They also supported Bonck, a Republican running for the open 38th Congressional District seat and endorsed by Trump.

The growing amount of money from the crypto world being used in political campaigns shows that the digital asset industry is working harder to gain influence in Washington and at the state level. This push comes after years of disagreements with regulators like the SEC, CFTC, and members of Congress.

As a crypto investor, I’ve noticed a real shift in how political groups are supporting candidates. They’re increasingly backing people who seem open to sensible rules for crypto markets, especially around stablecoins, and generally want to see digital assets become more mainstream. Texas is becoming a particularly important state in all of this, because it’s quickly becoming a huge hub for Bitcoin mining, and it’s also innovating a lot in energy and financial tech. It feels like a lot of the future of crypto is going to be shaped by what happens there.

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2026-05-26 21:14