According to the source, crypto-backed groups spent millions in Texas and other U.S. races, backing Republicans and some Democrats as lawmakers advanced digital asset rules and campaign influence widened.
Political action committees and crypto-focused political groups increased election spending across U.S. races, including Texas contests, as lawmakers advanced digital asset rules. According to the source, the industry-backed effort was bipartisan in some races, supporting both Democratic and Republican candidates, while newer reporting adds that Fairshake spent $6.5 million in a Texas primary, Fellowship deployed about $11 million, and Digital Freedom Fund added $21 million for Republican candidates and Trump’s crypto agenda. The activity reportedly helped unseat a senior Democrat and illustrates how the crypto industry is using campaign finance to build influence over regulation, market structure, and oversight.