According to the latest filing with the Federal Election Commission (FEC), Protect Progress spent $4.9 million to support Christian Menefee in the Democratic primaries for Texas' 18th Congressional District elections. The PAC has also spent over $2.8 million against incumbent Al Green, as reported by AMBCrypto. Analysts describe these primaries as the most expensive in Texas history, highlighting the crypto industry's significant financial commitment to influencing political outcomes.
According to Stand With Crypto (SWC), a Coinbase-backed lobby, Al Green is rated as 'strongly against crypto' and has voted against five pro-crypto bills, including the CLARITY Act and the GENIUS Act. In contrast, Menefee has earned the 'strongly supports crypto' rating from SWC. As reported by AMBCrypto, Green has publicly criticized the industry's financial influence, stating in mid-May that he is 'unbought by crypto cash' and the millions of dollars spent by the crypto industry to elect Congressional representatives.
According to prediction platform Kalshi, Menefee was primed to win the race with an 88% chance as of writing, as reported by AMBCrypto. This strong prediction market support suggests significant confidence in Menefee's electoral prospects against Green. The prediction comes despite Green's public criticism of the crypto industry's political spending influence.
According to AMBCrypto, Protect Progress is part of a broader trend among crypto PACs including Fellowship and Fairshake, which aggressively back pro-crypto candidates while opposing anti-industry aspirants. These groups have demonstrated success, with Protect Progress claiming a victory on 19th May after Jasmine Clark won Georgia's 13th District primary. So far in 2026, crypto PACs have spent nearly $68 million, which remains far below the almost $300 million spent during the 2024 U.S. elections.
As reported by AMBCrypto, the expenditure is likely to increase ahead of the November elections, with Democrats increasingly being targeted by certain crypto PACs. This strategic approach appears to be part of the crypto industry's long-game strategy, given that the CLARITY Act has not been passed into law. The industry appears to be positioning itself to influence legislation if Democrats control the House after November, particularly if President Donald Trump loses control of Congress.
