Cryptocurrency industry is on track to surpass 2024 spending on Texas midterm races

In the 2024 midterm cycle, 53 out of 58 candidates from around the country that crypto super PACs spent on were elected to Congress. Four of those candidates were from Texas.

This year, crypto super PACs are spending on behalf of a new crop of Texas candidates, and are on track to surpass spending on them and others in the last midterm elections.

Two PACs, Defend American Jobs and Protect Progress, have already spent more than $2.5 million on Texas candidates so far this year, according to the latest Federal Election Commission filings. Those PACs are affiliated with Fairshake, a massive cryptocurrency warchest that reported $193 million cash on hand at the beginning of 2026.