Crypto Money Floods US Politics As PACs Spend $7.2M Across 5 States

With less than six months until US voters pick their next Congress, political action committees backed by crypto are making clear they intend to shape who gets elected — and who doesn’t.

A War Chest With Deep Pockets

Fairshake, a PAC funded by crypto companies, and two of its affiliates reported $7.2 million in media spending this week alone, targeting congressional races in Georgia, Alabama, Nebraska, Kentucky, and Texas.

The money came through two separate arms: Protect Progress, which backs Democratic candidates, and Defend American Jobs, which supports Republicans. Together, they reflect a deliberate effort to build influence on both sides of the aisle.

The numbers behind Fairshake are hard to ignore. According to federal filings, the group held more than $190 million as of January. In the 2024 election cycle, its affiliates burned through more than $130 million on political advertising.

That spending is widely credited with shifting the composition of the current Congress — the same body now weighing crypto legislation.

This is another promise kept by President Trump, ensuring America remains the global home of crypto and digital assets for generations to come.

— Congressman Andy Barr (@RepAndyBarr) July 17, 2025

Kentucky Republican Andy Barr pulled in the largest single chunk of this week’s spending. Defend American Jobs directed more than $3.5 million in media support toward his US Senate campaign.

Barr has been a consistent advocate for crypto-friendly policy in Congress, voting in favor of both the GENIUS Act and the CLARITY Act.

Targeting An Incumbent

Not all the money is going toward friendly faces. Protect Progress has set its sights on Representative Al Green of Texas, a Democrat seeking a 12th term in office.

The PAC pledged $1.5 million to block his return to Congress, calling him hostile to Texas’s crypto community. Green faces a May 26 runoff against Christian Menefee, who has received about $1.6 million in combined PAC support alongside Georgia Democrat Jasmine Clark.

Clark faces her own primary on May 19 in Georgia’s 13th Congressional district. Both candidates were backed through Protect Progress filings submitted to the Federal Election Commission this week.

Reports indicate Defend American Jobs also spent around $514,000 earlier this cycle supporting Republican James Baird’s reelection bid in Indiana — a race Baird went on to win.

The CLARITY Act — a digital asset market structure bill — is shaping up to be a key issue heading into November.

The bill recently cleared a Senate hurdle after lawmakers reached a compromise on stablecoin yield rules, though the Senate Banking Committee had not yet scheduled a markup vote as of Thursday.

Cody Carbone, CEO of The Digital Chamber, a crypto advocacy group, told reporters the stakes are high.

“I do think it is critically important that every single member of Congress have a position on crypto,” he said. “It’s part of their election campaign and their platform, and voters are going to be paying attention to this.”

Featured image from Getty Images, chart from TradingView