Crypto-backed political groups reportedly increased their spending in several closely watched Texas primary runoff races this week, signaling the industry’s growing involvement in state and federal elections ahead of the 2026 midterms.
According to an X post shared by journalist Eleanor Terrett, the latest wave of spending came from a mix of industry-funded political action committees, including Fairshake and Tether-backed Fellowship PAC.
The expenditures targeted multiple congressional and Senate contests across Texas, with crypto organizations backing both Republican and Democratic candidates.
Fairshake deploys millions across Texas contests
Fairshake, the largest crypto-focused Super PAC network in the United States, entered 2026 with roughly $193 million available for campaign spending and has already directed millions toward Texas races, as per Terrett’s X post.
One of the largest expenditures came in Texas’ 18th Congressional District, where Fairshake and affiliated groups reportedly spent about $6.5 million supporting Democrat Christian Menefee while also spending more than $2.5 million opposing incumbent Representative Al Green.
The network also spent approximately $1.8 million across several Republican primary runoff campaigns. Those expenditures included support for Alex Mealer in Texas’ 9th District, Tom Sell in the 19th District, Carlos De La Cruz in the 35th District, and Bonck in the open 38th District race.
Tether-backed PAC supports Paxton
Separately, Tether-backed Fellowship PAC spent $500,000 on advertisements supporting Attorney General Ken Paxton in his Senate campaign against incumbent Senator John Cornyn.
The ad buy followed an endorsement from Donald Trump and came after Fellowship PAC previously withdrew a planned $1.75 million advertising campaign supporting Paxton earlier this year.
The spending highlights how crypto-aligned groups are increasingly participating in high-profile Republican contests, particularly in races viewed as influential to future financial and digital asset regulation.
The Crypto Times team reached out to Fellowship PAC for official comment, but hasn’t received any response yet.
New crypto advocacy groups enter elections
Another industry-backed organization, Blockchain Leadership Foundation, also reportedly entered the Texas races with donations to candidates on both sides of the political spectrum.
The group contributed an undisclosed amount to Menefee’s campaign in Texas’ 18th District and also backed Bonck, a Republican candidate endorsed by Trump in the race for Texas’ open 38th Congressional District seat.
The expansion of crypto-linked political spending reflects a broader effort by the digital asset industry to build influence in Washington and state politics following years of regulatory disputes involving the SEC, CFTC, and Congress.
Industry groups have increasingly backed candidates viewed as supportive of crypto market structure legislation, stablecoin regulation, and broader digital asset adoption. Texas has emerged as a key battleground because of its growing role in Bitcoin mining, energy markets, and financial technology development.
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