Market Updates

ADVERTISEMENT

Events

Chain of Thoughts

Crypto PAC Launches $1.5M Campaign to Unseat Rep. Al Green in Texas Primary

A pro-crypto political action committee is ramping up pressure in Texas, pledging to spend $1.5 million to oppose Democratic Rep. Al Green in the upcoming primary, citing his voting record on digital asset legislation.

Protect Progress, an affiliate of the powerful crypto-focused super PAC Fairshake, confirmed the planned expenditure in a statement to The Hill on Thursday. The group accused Green, a longtime member of the House Financial Services Committee, of attempting to block innovation within the US digital asset sector.

Green, who has represented Texas’ 9th congressional district since 2005, opposed two major crypto bills passed by the House last year, the GENIUS Act, aimed at regulating stablecoins, and the CLARITY Act, designed to establish clearer market structure rules for digital assets.

Crypto lobby expands midterm strategy

The move marks the latest push by the crypto industry to shape the political landscape ahead of the November midterm elections. During the 2024 cycle, the sector emerged as one of the largest political spenders in the country, with Fairshake alone deploying approximately $130 million in support of crypto-aligned candidates.

Super PACs such as Protect Progress can raise unlimited funds from donors but are prohibited from coordinating directly with candidates’ campaigns. Instead, they channel resources into advertising and independent political advocacy.

In January, Fairshake disclosed it had raised $193 million to deploy during the midterms. Another affiliate, Defend American Jobs, recently announced a separate $5 million effort to support crypto-friendly Republican Barry Moore in his US Senate bid.

Menefee Positions as Pro-Blockchain Alternative

Green is set to face Houston-area Democrat Christian Menefee in the March primary. Texas will be among the first states to vote on March 3, alongside Arkansas and North Carolina, with the general election scheduled for November 3.

Crypto advocacy group Stand With Crypto currently rates Green as “strongly against crypto,” citing his legislative record and public comments. By contrast, Menefee has been labelled “strongly supports crypto” based on his responses to the group’s policy questionnaire.

In his submission, Menefee highlighted blockchain’s potential for public-sector applications, including recording property deeds on-chain to combat fraud and modernize outdated systems.

 

Enjoyed this piece? Bookmark DeFi Planet, explore related topics, and follow us on Twitter, LinkedIn, Facebook, Instagram, Threads and CoinMarketCap Community for seamless access to high-quality industry insights.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

ADVERTISEMENT

Editor's Picks

ADVERTISEMENT

Spotlight

Press Releases

Popular News

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00