Key facts
- Manny Rutinel won the Democratic primary for Colorado's 8th congressional district.
- Rutinel received 61.7% of the vote.
- The You Can Push Back Super PAC, backed by Ripple co-founder Chris Larsen, spent $1 million to support Rutinel.
- The crypto industry has spent approximately $189 million on political contributions so far for the 2026 US elections.
- A poll indicates a majority of Americans are concerned about the crypto industry's influence on US lawmakers.
Manny Rutinel, a Democratic candidate for Colorado's 8th congressional district, has won his party's primary election. His victory means he will advance to the November general election. Rutinel's campaign received significant backing from the You Can Push Back Super PAC, which reportedly spent $1 million on media to support his run. This PAC is funded by Chris Larsen, a co-founder of Ripple Labs. Rutinel has previously received a "strongly supports crypto" rating from the Coinbase-affiliated Stand With Crypto organization, based on his stated positions on stablecoins, market structure, and regulatory clarity. Coinbase is also a notable contributor to the Fairshake PAC, another group supporting candidates perceived as pro-cryptocurrency. This development occurs amidst broader concerns about the cryptocurrency industry's financial influence in US politics. A report by Public Citizen indicates that the crypto industry has already spent approximately $189 million on contributions aimed at influencing the 2026 US elections, largely through PACs. Experts suggest this strategy mirrors the industry's approach in 2024, with expectations of continued spending to elect politicians favorable to crypto interests. Concurrently, a new poll commissioned by Americans for Financial Reform reveals that a majority of Americans are concerned about the extent of the crypto industry's influence on US lawmakers. The poll results, released on Wednesday, showed that voters across party lines—Democrats, Republicans, and Independents—expressed concern regarding the impact of industry donations on crypto-related legislation. Mark Hays of Americans for Financial Reform stated that voters have witnessed "serious crypto corruption" and high-ranking officials profiting while ordinary people suffer losses from scams, leading to a desire for the crypto industry to adhere to the same regulations as other financial companies. White House Deputy Press Secretary Anna Kelly asserted that President Trump and his family have not engaged in conflicts of interest. Americans for Financial Reform concluded that voters likely agree on the necessity of sensible regulation for the crypto industry.