Crypto PAC-Backed Candidate Wins Colorado Primary
Quick Look
- Manny Rutinel, a Democratic candidate for Colorado's 8th congressional district, won his party's primary with 61.7% of the vote.
- His campaign was supported by the You Can Push Back Super PAC, funded by Ripple Labs co-founder Chris Larsen, which spent $1 million on media.
AI-generated summary
Why It Matters
Manny Rutinel, a Democratic candidate for Colorado's 8th congressional district, won his party's primary with support from a crypto-aligned PAC. A new poll indicates public concern over the crypto industry's influence on US lawmakers.
Manny Rutinel, a Democratic candidate running to represent Colorado’s 8th congressional district, has won his party’s primary and will head to the November election after being supported by a crypto-aligned political action committee (PAC).
Early on Wednesday, Rutinel reported that Rutinel would be the Democratic nominee for Colorado’s 8th district, having won with 61.7% of the vote against Shannon Bird’s 33.6%. 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.
The Colorado Democrat has a “strongly supports crypto” rating from the Coinbase-affiliated Stand With Crypto organization, based on his answers to questions about stablecoins, market structure and regulatory clarity. Coinbase is also a major contributor to the Fairshake PAC, which supports what it considers “pro-crypto” Democratic and Republican candidates for Congress.
Source: Stand With Crypto
On Tuesday, the consumer advocacy group Public Citizen reported that the cryptocurrency industry had spent about $189 million so far on contributions to influence the 2026 US elections, largely through PACs. In what some experts say is the industry repeating its 2024 strategy, crypto-aligned groups are expected to continue spending to elect what they consider “pro-crypto” politicians.
Related: Senate leaders push for July passage of CLARITY Act
Cointelegraph reached out to a spokesperson for You Can Push Back but did not receive an immediate response.
Poll shows Americans think crypto has too much influence in Washington, DC
A new poll commissioned by Americans for Financial Reform released on Wednesday showed that a majority of Americans are concerned about the influence the crypto industry has on US lawmakers. The results followed financial disclosures showing that US President Donald Trump profited by more than $1.4 billion from his crypto investments.
“Voters have seen serious crypto corruption and high ranking government officials raking in profits while everyday people experience crypto-fueled losses and scams,” said Mark Hays, the associate director of crypto and fintech at Americans for Financial Reform. “Voters want crypto to have to play by the same kinds of rules as other financial companies, not dictate special privileges for itself.”
White House Deputy Press Secretary Anna Kelly said on Tuesday that neither Trump nor his family “has ever engaged — or will ever engage — in conflicts of interest.”
Among the poll’s results included a majority of Democrats, Republicans and Independents being concerned about crypto-related laws being influenced by donations from those in the industry. Americans for Financial Reform concluded that voters were likely to agree that the crypto industry needs sensible regulation.
What to Watch
AI outlook — possibilities, not facts
Crypto-aligned groups will continue spending to elect pro-crypto politicians.
Very likely · Medium term
Open Questions
- Will crypto influence continue to grow in elections?
- What specific regulations will be proposed?
- How will voters react to crypto lobbying?
