By Jim Mishler | Tuesday, April 21, 2026
Cryptocurrency-aligned political action committees are on pace to surpass their 2024 midterm spending in Texas congressional races. A Texas Tribune review of Federal Election Commission filings reveals that two major crypto-focused PACs—Defend American Jobs and Protect Progress—have already spent more than $2.5 million supporting Texas candidates this cycle, compared with approximately $1 million at the same stage in 2024.
Both groups are affiliated with Fairshake, a large cryptocurrency-oriented political fund that reported holding $193 million in cash at the start of 2026. Nationally, crypto-aligned super PACs have spent at least $28 million so far this cycle, up from about $22 million during the same phase of the previous election cycle.
In the last midterm cycle, 53 of 58 candidates backed by crypto PACs nationwide won their races, including four in Texas. Daron Shaw, a government professor at the University of Texas at Austin, noted that the increased spending reflects concerns about potential regulation: “The fear is there’s going to be significant regulation on the part of Congress, and so [crypto PACs] want to find people who would be willing to at least listen to them,” he said.
Rep. Christian Menefee, a Democrat, has received the largest share of crypto spending in Texas, with over $1.5 million supporting his campaign in a runoff against Rep. Al Green in a Houston-area district. Green has opposed major cryptocurrency legislation, including the GENIUS Act and Clarity Act, and raised concerns about sanctions enforcement and environmental impacts. When questioned on the House floor, Green stated: “When you get an ‘F’ that means they don’t like you. When they don’t like you, they’ll do whatever they can … to expel you, to evict you.”
Menefee has taken a different approach, emphasizing regulation and engagement with the industry. He noted: “Over 70 million Americans have crypto right now, and a lot of them are young. My job is to protect them, and you can’t protect people when you refuse to engage on an issue.”
On the Republican side, Defend American Jobs has spent about $771,000 backing Jessica Steinmann in a race to replace retiring Rep. Morgan Luttrell. Steinmann described herself as a “strong supporter of digital assets, blockchain technology and financial innovation that expands economic freedom.” Other crypto spending has supported candidates in Central Texas and the Houston area, including Trever Nehls, who won a primary in a solidly Republican district.
Michael Beckel of Issue One said the industry is seeking greater influence: “The cryptocurrency industry wants people in Washington and in statehouses to be able to pick up their phone calls.” Adam Green of the Progressive Change Campaign Committee added that crypto PACs were highly effective last cycle and could have a similar impact again: “Crypto was successful last cycle in being the only player on the block, and having a chilling effect on political leaders being willing to put any rules or guardrails.”
