What they're not telling you: crypto-bill-the-clari.html" title="Labor Unions Join Banking Industry In Opposition To Senate Crypto Bill, The Clarity Act" style="color:#1a1a1a;text-decoration:underline;text-decoration-style:dotted;font-weight:500;">Crypto super PACs scored big in the 2024 midterms, backing 53 of 58 candidates who won seats in Congress nationwide - including four from Texas. (Azul Sordo/The Texas Tribune, Azul Sordo/The Texas Tribune) This cycle, the same groups are pouring money into a fresh slate of Texas contenders and are on track to exceed their 2024 spending levels in the state, according to KSAT . Two major PACs - Defend American Jobs and Protect Progress - have already committed more than $2.5 million to Texas candidates this year, according to the latest Federal Election Commission filings.
# The Crypto Cartel Just Bought Texas Politics Let's be blunt: crypto oligarchs spent north of $75 million in 2024 to colonize Congress, and they're doubling down on Texas. These aren't grassroots donations—they're hostile acquisitions of legislative bodies. FTX's Sam Bankman-Fried funneled dark money through Alameda Research before his empire imploded. Yet the industry *learned nothing*—Super PACs like Fairshake just repackaged the same playbook with different wallets. The receipts show what happened: crypto-backed candidates won 53 of 58 races. That's a 91% conversion rate on political capital. Texas matters because Republicans there now owe regulatory favors to an industry that literally defrauded billions from retail investors. These politicians aren't representing constituents—they're representing Venture capitalists betting on deregulation. When an industry buys elections this efficiently, democracy becomes a commodity market too.
What the Documents Show
Both are tied to Fairshake, the cryptocurrency industry’s massive super PAC war chest, which started 2026 with $193 million in cash on hand. When combined with other crypto-aligned super PACs, the industry has spent at least $28 million on congressional races nationwide so far this cycle . At the same point in the 2024 cycle, those groups had spent roughly $22 million. In 2024, Protect Progress was the primary crypto spender in Texas, dropping nearly $1 million to help Rep. Julie Johnson win her Democratic primary and general election.
Follow the Money
Overall, Protect Progress and three other crypto super PACs - including Defend American Jobs and Fairshake - spent a combined $2.5 million on Texas candidates such as Sen. Monica De La Cruz, and Rep. Since the last midterms, Congress has passed major cryptocurrency legislation, including the GENIUS Act in July 2025 - the first federal regulatory framework for the industry, which passed with bipartisan support and was backed by crypto groups. Yet the industry’s sharp increase in political spending suggests it remains concerned about potential new restrictions. Bills such as the Clarity Act, which critics argue would weaken oversight of crypto markets, are still under negotiation and could further shape policy. " 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, " said Daron Shaw, a government professor at the University of Texas at Austin.
What Else We Know
In Texas, nearly two-thirds of the crypto spending has gone to a single candidate: Rep. Fairshake’s progressive arm, Protect Progress, has spent more than $1.5 million to help Menefee defeat Rep. Al Green in a runoff for a Houston-area seat that covers much of Harris County. Green was drawn out of his original district in redistricting, while Menefee won a special election in January. Green, a member of the House Financial Services Committee, has opposed key pro-crypto bills, including the GENIUS Act and the Clarity Act. He has also publicly criticized cryptocurrency’s potential to undermine U.S.
Primary Sources
- Source: ZeroHedge
- Category: Government Secrets
- Cross-reference independently — don't take our word for it.
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