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 PocketsThat 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.
Targeting An IncumbentNot 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.
Legislation As The Measuring StickThe 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
