Multiple PACs backed by crypto companies have concentrated their funding in several key primary elections in Texas.

CoinFeed reported on May 26th that, according to Eleanor Terrett, the approximately $2.5 trillion crypto industry is channeling funds through multiple crypto-backed PACs in 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.