According to Woofun AI, the Super Political Action Committee Digital Freedom Fund, founded by Gemini (GEMI.US) co-founders Cameron Winklevoss and Tyler Winklevoss in 2025, officially disclosed its political spending trends to the US Federal Election Commission. The agency confirmed in an October 20 filing that it has invested more than $8.1 million in direct-mail media ads to support Republican candidate Ken Paxton's bid for the Texas Senate seat and target Democratic candidate James Talarico. At this point, Texas has begun early voting on October 19, and the final election date is scheduled for November 3.
According to data compiled by Woofun AI, the Digital Freedom Fund raised about $34 million as of September 30, and its political influence far exceeds that of Texas alone. In the Ohio Senate election campaign, the PAC backed Republican candidate Jon Husted against Democratic candidate Sherrod Brown, raising its cumulative support for Husted to about $7 million.
Meanwhile, another crypto industry, PAC Fairshake, also reported more than $13 million in direct mail advertising spending this week, of which around $9 million was used to support Husted, and more than $4 million was invested in the Nebraska Senate election to oppose independent candidate Dan Osborn.
These intensive flows of political capital are centered on candidates who may support crypto policies and legislation. Predictive contract data between Kalshi and Polymarket shows that the market is generally optimistic that the Democratic Party will take back majority control of the House and Senate in 2027. Changes in the majority party affiliation of both houses will directly determine the fate of key legislative processes such as the “Digital Asset Market Clarity Act”. The market structure bill failed to pass a procedural vote in the Senate last month. Looking back on the previous situation, when Paxton defeated current Senator John Cornyn in the May Democratic runoff, he received over $500,000 in advertising support from the Fellowship PAC supported by Anchorage Digital and Cantor Fitzgerald. The funding was executed through the Nxum Group co-founded by Bo Hines.
The crypto industry is turning capital advantage into political voice through a super-PAC system in an attempt to lock in allies in key swing states in the midterm elections. As the election approaches, various factions will continue to increase their investment in advertising campaigns in Texas, Ohio, etc., and uncertainty about the future of legislation will further push up the marginal utility of political donations. This is the most direct impact of Web3 native capital on Washington decision makers after traditional financial giants.