Cryptocurrency lobbying group spends $1.5 million to target opposition lawmakers, US midterm elections become a "crypto barometer"

On February 13, news reports indicate that the political lobbying efforts of the cryptocurrency industry are accelerating their involvement in the U.S. election process. The super PAC supporting the digital asset industry, Protect Progress, announced it will spend $1.5 million on advertisements in the Texas Democratic primary to oppose longtime Congressman Al Green, citing his longstanding anti-crypto stance and repeated obstruction of related legislation in Congress.

Protect Progress is affiliated with the large crypto political organization Fairshake. In a statement, the organization said that Al Green, as a member of the Financial Services Committee, opposed the stablecoin regulation bill GENIUS Act and the market structure reform bill CLARITY Act, and is viewed as a key figure hindering American financial innovation. He has represented Texas’s Ninth District since 2005 and has served in Congress for over twenty years.

Crypto advocacy group Stand With Crypto, based on voting records and public statements, rated Al Green as “strongly anti-cryptocurrency,” while his opponent, Houston-area candidate Christian Menefee, was rated as “strongly pro-cryptocurrency.” Menefee stated that he aims to promote blockchain applications in public sectors such as property registration and fraud prevention to enhance government transparency.

This move is seen as a significant strategic step by the crypto industry ahead of the 2026 midterm elections. Data shows that during the 2024 general election, Fairshake alone invested about $130 million to support pro-crypto candidates, making the industry one of the largest financial backers in U.S. politics. According to the latest disclosures, the organization has already raised $193 million for a new round of elections this year.

In addition to Texas, its affiliated organization, Defend American Jobs, also announced a $5 million investment to support pro-crypto candidate Barry Moore for the U.S. Senate. Analysts believe that as regulatory policies become a focal point, the crypto industry is reshaping the legislative environment through political channels, which will also have a more direct impact on the future direction of U.S. digital asset policies.