Crypto PACs tilt Republican before midterms

The US cryptocurrency industry is increasingly backing Republican political candidates ahead of the midterm elections as crypto-linked super PACs expand their influence across congressional races.

Fairshake and affiliated groups spent millions of dollars supporting pro-crypto candidates in recent Texas primary runoffs, including $6.5 million backing Christian Menefee against longtime crypto critic and Democratic Representative Al Green.

“Anti-crypto hostility carries consequences,”

Said Fairshake spokesman Geoff Vetter after Green lost his congressional race.

The crypto industry’s political influence has widened beyond Fairshake, with newer Republican-leaning PACs including Fellowship and the Digital Freedom Fund emerging as significant election players.

Fellowship, which is associated with Tether and Cantor Fitzgerald, spent about $500,000 supporting Texas Attorney General Ken Paxton and has largely backed candidates endorsed by Donald Trump.

The industry’s political spending also extended into Kentucky, Alabama and Georgia primaries, where Fairshake reportedly spent about $20 million supporting pro-crypto congressional candidates and Senate hopefuls.

The shift toward Republican-aligned crypto funding comes as Congress continues debating digital asset legislation including the Digital Asset Market Clarity Act and follows broader industry efforts to secure friendlier regulation in Washington.