Crypto PACs Deploy $193M Fund in 2026 Midterm Primaries

Edgen Crypto

·Mar 03 2026, 23:44

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Key Takeaways

Crypto-aligned political action committees are deploying a nine-figure war chest to influence the 2026 U.S. midterm elections, building on a successful spending campaign from 2024. As primaries kick off in Texas, North Carolina, and Arkansas, these groups are spending millions to support pro-crypto candidates and oppose incumbents viewed as hostile to the industry, aiming to shape future digital asset legislation.

A coalition of crypto-backed Super PACs, led by Fairshake, holds $193 million in funding for the 2026 election cycle.
This follows a $133 million spending effort in 2024, which advocates credit with helping elect a more crypto-friendly Congress.
Targeted campaigns are already underway, including a $1.5 million effort to oppose the re-election of Texas Representative Al Green.

Crypto PACs Leverage $193M Fund for 2026 Midterms

As the 2026 U.S. midterm primary season begins in North Carolina, Texas, and Arkansas, crypto-industry Super PACs are mobilizing a significant political war chest to influence legislative outcomes. Fairshake, a prominent PAC backed by companies like Ripple and Coinbase, confirmed it holds $193 million in its coffers for the election cycle. This aggressive fundraising follows a highly effective 2024 campaign where the group spent over $133 million on media buys. That spending was credited by industry leaders, including Coinbase CEO Brian Armstrong, with fostering the “most pro-crypto Congress” in history, which subsequently passed the GENIUS Act.

PACs Target Texas Races With Over $1.5M In Directed Spending

The industry's strategy involves precise, high-impact spending in key races. In Texas, Fairshake's affiliate, Protect Progress, has already earmarked $1.5 million to oppose the reelection of Representative Al Green, whom the advocacy group Stand With Crypto rates as “strongly against crypto.” In contrast, his primary challenger, Christian Menefee, is rated as a strong supporter. This mirrors past efforts, such as in 2022 when Democratic Representative Jasmine Crockett, now a Senate candidate, received at least $2 million in support from crypto-related PACs for her House race. The Texas Senate primary alone has already attracted more than $122 million in total ad spending as of February 27, highlighting the high stakes for all interest groups involved.