A Democrat backed by a crypto-funded PAC won Colorado’s 8th District primary and now heads to the November election. Separately, the crypto industry has spent about $189 million on the 2026 US elections, and a new poll showed a majority of Americans are concerned about its influence over lawmakers.
Manny Rutinel, a Democrat running for Colorado’s 8th Congressional District, won his party’s primary with 61.7% of the vote against Shannon Bird’s 33.6%, and now heads to the November election. A crypto-aligned political action committee helped carry him there.
Before the primary, the You Can Push Back Super PAC — backed by $3.5 million from Ripple Labs co-founder Chris Larsen — reportedly spent $1 million on media to support Rutinel’s run. Rutinel holds a “strongly supports crypto” rating from the Coinbase-affiliated Stand With Crypto group, based on his answers on stablecoins, market structure and regulatory clarity. Coinbase is also a major contributor to the Fairshake PAC, which backs candidates from both parties that it considers pro-crypto.
Industry spending nears $189 million
On Tuesday, the consumer advocacy group Public Citizen reported that the crypto industry had spent about $189 million so far to influence the 2026 US elections, largely through PACs. Some experts say the industry is repeating its 2024 strategy, and crypto-aligned groups are expected to keep spending to elect politicians they consider pro-crypto.
Poll flags voter concern
A new poll commissioned by Americans for Financial Reform, released on Wednesday, showed that a majority of Americans are concerned about the crypto industry’s influence on US lawmakers. The results followed disclosures that US President Donald Trump profited by more than $1.4 billion from his crypto investments.
According to Cointelegraph, Mark Hays of Americans for Financial Reform said: “Voters want crypto to have to play by the same kinds of rules”. The group concluded that voters were likely to agree the industry needs regulation, with concern shared across Democrats, Republicans and Independents.
Source: Cointelegraph
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