Crypto-Backed PACs Including Fairshake Invest $19.3M in Texas Primary Runoffs

According to Eleanor Terrett, on May 26, multiple crypto-backed PACs concentrated funding in key Texas primary runoff elections. The industry, valued at approximately 2.5 trillion dollars, deployed significant capital through networks including Fellowship PAC and Fairshake. Tether-backed Fellowship PAC invested 500,000 dollars in advertising to support Ken Paxton against incumbent Senator John Cornyn. Fairshake and affiliated organizations, which held approximately 193 million dollars in early 2026, deployed 6.5 million dollars to support CD Menefee in TX-18 and over 2.5 million dollars in opposition spending against incumbent Representative Al Green.

The crypto super PAC network also allocated approximately 1.8 million dollars across multiple Republican primary contests. Blockchain Leadership Fund, a newly established group, contributed to candidates CD Menefee and Jon Bonck in separate Texas districts.