Protect Progress Campaign Efforts
The pro-crypto political action committee Protect Progress is ramping up its campaign efforts ahead of the upcoming midterm elections, dedicating a significant $1.5 million to unseat Texas Representative Al Green in the Democratic primary. This move stems from Green’s opposition to pivotal digital asset legislation, including his votes against the GENIUS Act and the CLARITY Act, which are critical to the burgeoning cryptocurrency sector.
Criticism of Al Green
As a member of the House Financial Services Committee, Green’s actions have drawn criticism from the group, which is associated with the influential crypto super PAC Fairshake. In a statement to The Hill, Protect Progress argued that Green’s position halts American innovation and expressed that Texans need representatives who align with the principles of a rapidly expanding crypto community in the state.
Having served Texas’s 9th congressional district since 2005, Green has consistently voted against legislation seen as beneficial to the crypto industry; this includes a strong rejection of the stablecoin-focused GENIUS Act and the CLARITY Act, both of which successfully passed the House in the previous year. His voting history and public remarks have led crypto advocacy groups to label him as “strongly against crypto”, according to Stand With Crypto, an organization that rates lawmakers on their digital asset stances.
Christian Menefee’s Support for Crypto
In contrast, Green’s opponent Christian Menefee has garnered a rating of “strongly supports crypto” from Stand With Crypto. Menefee has advocated for blockchain technologies to tackle real societal issues, such as using on-chain property records to combat deed fraud. He also indicated plans to support or propose legislation that promotes blockchain innovations aimed at enhancing public welfare, protecting families from scams, and modernizing government functions.
Upcoming Democratic Primary
The Democratic primary race scheduled for March will see the two candidates contend for a newly configured Houston-area district. Texas is set to kick off this round of primary elections on March 3, sharing the date with Arkansas and North Carolina, leading up to the general election slated for November 3.
Broader Trends in Cryptocurrency and Politics
This development exemplifies a broader trend of the cryptocurrency industry’s increasing entrenchment in U.S. electoral politics. During the 2024 cycle, political donations linked to digital asset interests have surged, with Fairshake alone reported to have spent around $130 million. Notably, Super PACs like Protect Progress and Fairshake enjoy the capacity to raise unlimited financial backing from contributors but are legally restricted from direct collaboration with candidates or their campaigns, typically aiming to sway voters through independent advertisements and other outreach efforts.
