Cryptocurrency-aligned political action committees are on pace to surpass their 2024 midterm spending in Texas congressional races.
The Texas Tribune's review of Federal Election Commission filings shows two major PACs, Defend American Jobs and Protect Progress, have spent more than $2.5 million on Texas candidates so far this cycle, compared with about $1 million at the same point in 2024.
Both groups are affiliated with Fairshake, a large crypto-focused political fund that reported $193 million in cash on hand at the start of 2026.
Nationwide, crypto-aligned super PACs have spent at least $28 million so far in the current cycle, up from about $22 million at the same stage in 2024.
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, said the spending reflects concern 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," Shaw said.
Rep. Christian Menefee, a Democrat, has received the largest share of crypto spending in Texas, with more than $1.5 million backing his campaign in a runoff against Rep. Al Green in a Houston-area district.
Green has opposed major crypto legislation, including the GENIUS Act and the Clarity Act, and has raised concerns about sanctions enforcement and environmental impacts.
"When you get an 'F' that means they don't like you," Green said on the House floor. "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.
"Over 70 million Americans have crypto right now, and a lot of them are young," Menefee said. "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 has described herself as a "strong supporter of digital assets, blockchain technology and financial innovation that expands economic freedom."
Other 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," Beckel said.
Adam Green of the Progressive Change Campaign Committee said crypto PACs were highly effective in the 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," he said.
Jim Mishler ✉
Jim Mishler, a seasoned reporter, anchor and news director, has decades of experience covering crime, politics and environmental issues.
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