TLDR
- Manny Rutinel won Colorado’s Democratic primary for the 8th district.
- Rutinel received 61.7% of the vote against Shannon Bird.
- A Chris Larsen-backed PAC spent $1M supporting Rutinel.
- Rutinel has a “strongly supports crypto” rating from Stand With Crypto.
- Public Citizen said crypto firms spent $189M on 2026 elections.
Manny Rutinel, a Democratic candidate for Colorado’s 8th congressional district, won his party’s primary after receiving support from a crypto-aligned political action committee backed by Ripple Labs co-founder Chris Larsen.
Rutinel said early Wednesday that he would be the Democratic nominee for the district. He won 61.7% of the vote, while Shannon Bird received 33.6%.
Before the primary, the You Can Push Back Super PAC reportedly spent $1 million on media supporting Rutinel. The PAC has been backed by $3.5 million from Larsen, adding the race to the growing list of 2026 contests influenced by crypto-linked political spending.
Ripple Co-Founder-Backed PAC Supports Rutinel
Rutinel will now move to the November general election after winning the Democratic primary in Colorado’s 8th district. The race drew attention because of the outside spending tied to the crypto industry.
The You Can Push Back Super PAC spent about $1 million to support Rutinel’s campaign before the vote. The PAC’s funding included $3.5 million from Ripple co-founder Chris Larsen.
Rutinel has received a “strongly supports crypto” rating from Stand With Crypto, an advocacy group affiliated with Coinbase. The rating was based on his responses to questions about stablecoins, market structure, and regulatory clarity.
I am honored to be the Democratic nominee for Colorado’s 8th Congressional District. pic.twitter.com/dcNjcJ9GZo
— Manny Rutinel (@MannyRutinel) July 1, 2026
Coinbase is also a major contributor to Fairshake, a crypto-focused PAC that supports candidates it views as favorable to digital asset policy across both major parties.
Crypto Spending Grows Ahead of Midterms
Crypto companies have contributed about $189 million so far to influence the 2026 U.S. elections, according to a Public Citizen analysis of Federal Election Commission data.
The advocacy group said the industry remains one of the largest sources of corporate political spending this cycle. Crypto firms also ranked among the top spenders in the 2024 election cycle.
Ripple Labs was listed among the largest crypto donors, with $49.6 million in reported contributions. Most of that money went to Fairshake and affiliated groups, while smaller amounts went to Republican-linked committees.
Andreessen Horowitz ranked slightly higher among corporate contributors, with $51.65 million. The firm gave most of that amount to Leading the Future, a PAC focused on artificial intelligence policy.
Voter Concerns Over Crypto Influence Rise
The Colorado result came as a poll commissioned by Americans for Financial Reform showed voter concern about crypto’s influence in Washington.
The group said a majority of Democrats, Republicans, and Independents expressed concern about crypto-related laws being shaped by industry donations.
Mark Hays, associate director of crypto and fintech at Americans for Financial Reform, said,
“Voters have seen serious crypto corruption and high ranking government officials raking in profits while everyday people experience crypto-fueled losses and scams.”
He added that voters want crypto firms to follow rules similar to other financial companies. His comments reflect the group’s position and come as crypto policy remains a major issue in Congress.
Trump Crypto Income Adds to Debate
The poll followed financial disclosures showing President Donald Trump reported more than $1.4 billion in crypto-related income and assets in 2025.
White House Deputy Press Secretary Anna Kelly rejected conflict claims. She said,
“Neither the President nor his family has ever engaged or will ever engage in conflicts of interest.”
The debate has affected talks around crypto legislation, including the CLARITY Act and stablecoin rules. Some lawmakers want stronger ethics language before supporting broader market structure legislation.
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