Blockchain fund backs 10 US election candidates with $175,000

Direct support from the crypto industry to politicians

According to the official list released by the Blockchain Leadership Fund, Barry Moore, Kurt Alme, and Jon Husted have received backing for Senate races in Alabama, Montana, and Ohio, respectively. For the House, the fund will support Houston Gaines and Jim Kingston in Georgia, Jon Bonck in Texas, Angie Craig in Minnesota, Adrian Boafo in Maryland, Christian Menefee in Texas, and Don Davis in North Carolina.

The selected candidates hail from both the Republican and Democratic parties. A spokesperson from Anchorage Digital highlighted the critical role of bipartisan constructive involvement, emphasizing that continued leadership in financial technology and the future of financial systems in the US depends on it. The company also reaffirmed its commitment to responsible innovation and integrating crypto assets into a regulated framework.

A representative from Anchorage Digital underscored the importance of constructive, bipartisan participation in sustaining US leadership in global financial technology, reaffirming their ongoing support for responsible innovation and policies that enhance trust in the ecosystem.

Glossary: The Blockchain Leadership Fund is a political action committee in the US designed to strengthen digital asset and blockchain policies. It operates as a hybrid PAC, able to make direct contributions to candidates as well as influence elections through independent expenditures.

Record spending, media campaigns, and crypto funding in elections

The fund indicated that more political figures advocating responsible digital asset policies may be added to its list in the coming weeks. Federal Election Commission data shows that the Blockchain Leadership Fund has raised $175,000 to date, with $100,000 contributed by Anchorage Digital and $75,000 from Labs. Both companies were named as founding backers when the fund was first announced in March.

The timing of the support aligns with candidate successes in key primary races. In Georgia, Jim Kingston and Houston Gaines secured victories in the Republican primaries, while in Alabama, Barry Moore advanced to a runoff after falling short of an outright majority. These candidates and their leading competitors have attracted significant campaign funding.

For just these three candidates, Defend American Jobs PAC, closely associated with Fairshake, has spent a total of $8.5 million on media campaigns. Jon Bonck in Georgia also received an additional $350,000 in media support. Protect Progress, another Fairshake-affiliated PAC, allocated $4.1 million to Christian Menefee’s runoff campaign in Texas and over $2 million to Adrian Boafo’s campaign in Maryland.

Crypto backing for Texas Senate race as Trump steps in

As the Texas primary contest for the Senate nomination intensifies, crypto-sector funds have increased their engagement. The Fellowship PAC, supported by Cantor Fitzgerald and Anchorage Digital and operating with an $11 million budget, has notified the Federal Election Commission of its intent to spend $500,000 backing Texas Attorney General Ken Paxton’s Senate campaign. Last month, the Fellowship fund had paused its support for Paxton’s media outreach but has since resumed assistance.

US President Donald Trump recently endorsed Ken Paxton on Truth Social, choosing him over incumbent Senator John Cornyn. On the Democratic side, James Talarico won the March primary and will face the Republican runoff winner between Paxton and Cornyn in the next round.