The Protect Progress political action committee, linked to Fairshake, has invested $7.8 million in the Texas 18th Congressional District runoff election. Federal Election Commission filings reveal that the PAC spent $5 million supporting Democratic challenger Christian Menefee and $2.8 million opposing incumbent Representative Al Green. This significant financial backing highlights the crypto industry's strategic push in political funding. Representative Green, known for his critical stance on cryptocurrency legislation, including opposition to the stablecoin bill and the Clarity Act, has become a target for crypto advocacy groups. The Stand With Crypto group rated him poorly, and his opposition to crypto-friendly bills has made his seat a focal point for industry funding. Menefee also received support from the Blockchain Leadership Fund, backed by Anchorage Digital and Chainlink Labs, while prediction markets show high confidence in his victory.
Crypto-Linked PAC Invests $7.8 Million in Texas Congressional Runoff
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