The crypto industry’s massive political war chest is starting to lean Republican ahead of midterms
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- Fairshake PAC spent $6.5 million to back Christian Menefee in the Texas primary runoff, helping to unseat incumbent Democrat Al Green.
- Fellowship super PAC, linked to Tether and Cantor Fitzgerald, contributed $500,000 to Texas Attorney General Ken Paxton’s primary campaign.
- Blockchain Leadership Fund, founded with inaugural donations from Anchorage Digital and Chainlink, endorsed and donated to Christian Menefee, who won the runoff.
- Fairshake PAC also funded Republican House candidates Alex Mealer ($453,000), Tom Sell ($426,000), Carlos De La Cruz ($607,000) and Jon Bonck ($348,000) in Texas primaries.
- New crypto PACs are emerging with a Republican focus, potentially shifting the industry’s historically bipartisan political strategy.
Why it matters: Republican candidates gain millions in crypto money, while Democrat Al Green loses his seat; the $6.5M spend by Fairshake PAC reshapes Texas House races and signals a partisan tilt in crypto lobbying.
