Crypto PAC spending expanded into Texas’ Senate race as Digital Freedom Fund, launched by Gemini co-founders Cameron and Tyler Winklevoss, disclosed more than $81,000 in direct-mail spending supporting Republican Ken Paxton and opposing Democrat James Talarico. The October 20, 2026, filing came after early voting had begun and alongside much larger crypto-linked spending in Ohio.
Key Takeaways
- Digital Freedom Fund disclosed its first Texas Senate advertising expenditures, backing Paxton and opposing Talarico.
- The fund’s total spending supporting Ohio Republican Jon Husted reached about $7 million.
- Separate crypto-aligned PAC Fairshake reported additional spending in Ohio and Nebraska.
Table of Contents
- Crypto PAC spending adds Texas to the campaign
- Ohio draws substantially larger commitments
- Congressional control carries crypto-policy stakes
- Conclusion
Crypto PAC spending adds Texas to the campaign
Digital Freedom Fund’s Texas disclosure marks a new advertising push by the Winklevoss-backed super PAC, which was launched in 2025. The spending supports Paxton’s general-election campaign after his defeat of incumbent Senator John Cornyn in the May Republican primary.
These expenditures are separate from money given to a campaign. The FEC’s explanation of independent expenditures states that funds spent supporting or opposing a candidate are not directly given to or spent by that candidate.
Paxton had already benefited from $500,000 in supportive advertising before the primary, funded by Fellowship PAC, which is backed by Anchorage Digital and Cantor Fitzgerald. That earlier spending came from a different committee and is separate from Digital Freedom Fund’s latest disclosure.
| Item | Details |
|---|---|
| Digital Freedom Fund fundraising | About $34 million reported as of September 30, 2026. |
| Texas early voting | Began October 19, 2026. |
| Election Day | November 3, 2026. |
Ohio draws substantially larger commitments
Digital Freedom Fund also disclosed additional expenditures in Ohio’s Senate contest between Republican Jon Husted and Democrat Sherrod Brown, bringing its total support for Husted to about $7 million.
Fairshake, a separate crypto-aligned PAC largely funded by Ripple Labs, Coinbase and Andreessen Horowitz, disclosed more than $13 million in combined direct-mail spending during the week. That included an additional $9 million supporting Husted and more than $4 million opposing independent candidate Dan Osborn in Nebraska.
Fairshake’s total investment in the Ohio contest stood at about $56 million as of October 21. Those cumulative figures are distinct from the latest individual advertising disclosures and should not be treated as spending made entirely during the same week.
Congressional control carries crypto-policy stakes
The spending comes as the crypto industry seeks lawmakers who could support its legislative priorities. Control of the House and Senate will influence whether proposals such as the Digital Asset Market Clarity Act can advance.
The market-structure bill failed to clear a Senate procedural vote in September 2026. The election therefore matters for the route to future legislation, but advertising expenditures alone do not establish how voters will respond or whether a bill will pass.
Conclusion
The Texas disclosure broadens Digital Freedom Fund’s electoral activity, while Ohio remains a much larger spending commitment. The next confirmed milestone is the November 3 election, which will determine the congressional balance facing future crypto legislation.
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