PANews reported on May 26th that, according to Eleanor Terrett, the approximately $2.5 trillion crypto industry is channeling funds through multiple PACs (Public-Private Associations) backed by crypto companies in several key primary elections in Texas. Among them, the Tether-backed Fellowship PAC has spent $500,000 on ads for Ken Paxton's campaign against incumbent Senator John Cornyn, after previously withdrawing a planned $1.75 million ad budget for Paxton. The newly formed Blockchain Leadership Fund has donated to candidates CD Menefee in TX-18 and Jon Bonck in TX-38. Fairshake, the largest super PAC network in the crypto industry, and its affiliates held approximately $193 million earlier this year, having already invested $6.5 million in TX-18 to support Menefee, over $2.5 million against incumbent Representative Al Green, and a total of approximately $1.8 million in various Republican primaries to support multiple candidates.
