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The super PAC is allocating $1.5 million to ensure the defeat of Representative Al Green, a Democrat who has expressed criticism towards the crypto sector, by a primary challenger.
Crypto PAC Fairshake is focusing on Democratic Representative Al Green with a $1.5 million advertising campaign. (Andrew Harnik/Getty Images)
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What to know:
- For the second time this week, the Fairshake super PAC has revealed a substantial campaign expenditure plan in its bid to establish a pro-crypto Congress, specifically targeting Democratic Representative Al Green.
- One of Fairshake’s associated PACs has pledged $1.5 million against the veteran Texas congressman in a primary election next month, where he will face a candidate with favorable views on blockchain.
- This financial commitment significantly exceeds the amount Green’s campaign has raised thus far.
The campaign-finance branch of the crypto sector, Fairshake, has started to implement its campaign tactics in its well-resourced initiative to populate Congress with legislators ready to enact supportive digital asset legislation, with Democratic Representative Al Green being the initial target.
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An affiliate of the Fairshake political action committee, which has commenced utilizing its $193 million financial reserve for this year’s congressional midterm elections, announced it will allocate $1.5 million on advertisements opposing Green’s primary campaign.
The outspoken Texas lawmaker has frequently pointed out the risks that cryptocurrencies may pose to the U.S. financial system and investors, co-sponsored legislation aimed at halting President Donald Trump’s personal involvement in cryptocurrency businesses, and has voted against crypto-related legislative measures. His stance has resulted in an “F” rating from Stand With Crypto, an organization that evaluates the crypto advocacy of politicians.
Green, who is one of the senior Democrats on the House Financial Services Committee responsible for crypto legislation, faces challengers in the Democratic primary for the newly redrawn Texas district he represents. The Texas primaries are set to take place quickly next month, and the long-serving congressman must overcome a younger Democrat, Christian Menefee, who recently won a special election and assumed the seat in the redrawn district just days ago.
“Texas voters can no longer afford to have representation in Congress that is actively antagonistic towards a burgeoning Texas crypto community,” stated Fairshake’s super PAC affiliate, Protect Progress. “We are dedicated to electing new representatives who embrace innovation, growth, and wealth generation for all Americans.”
Menefee is in favor of blockchain technology, as per his campaign platform, and Stand With Crypto assigns him an “A” grade.
In Green’s most recent election in 2024, his campaign spent less than $450,000 to retain his position, which was uncontested in the primary, and he required even less in 2022. However, he has already raised over $700,000 in this more challenging race. Nonetheless, this amount remains less than half of Fairshake’s expenditure aimed at him.
Fairshake also disclosed this week that it will invest $5 million to support a pro-crypto Alabama Republican, U.S. Representative Barry Moore, in that state’s Senate primary. Additionally, the group is backing House Financial Services Committee Chairman French Hill, as confirmed by a spokesperson. The super PAC typically allocates funds for advertisements that convey general political messages, unrelated to crypto issues, and due to their status as “independent expenditures” under electoral regulations, Fairshake is prohibited from coordinating with campaigns.
