Crypto PACs Spend Big in Texas Midterms

0:00On April 21st, crypto political action committees tied to fair shake, holding $193 million in cash, are on track to top. Their 2024 midterm spending in Texas congressional races. These groups crushed at last cycle, with 53 out of 58 back candidates winning nationwide, including four in Texas. They're pumping serious money into key match-ups, like the Houston area runoff, where Democrat Christian Menophe has pulled in over $1 million five, $100,000 to face off against incumbent Al Green. Green called out the cash as an attack since he earned an F-grade from crypto scorecards, basically saying they want him gone. Menophe flips the script, pushing for smart rules to protect the 70 million Americans holding crypto, especially the younger crowd. Other funds are flowing to pro crypto voices like Michelle Steinman, a big fan of blockchain and financial freedom, and Troy Niels, who locked down a primary in a safe Republican spot.

1:00Experts warned the spending spree is all about getting lawmakers to pick up the phone and ease off heavy regulations, building on last cycle success. That scared off tougher oversight. With races heating up, crypto's grip on politics in Texas looks tighter than ever. U.S. News Today, powered by AI bringing you what matters nationwide. I'm Corey, with the story.