Crypto Allies Gain Ground In Congress After Indiana Primary Win

bitcoinistPublished on 2026-05-08Last updated on 2026-05-08

Abstract

The crypto industry's main political action committee, Fairshake, spent heavily to support the successful primary re-election of Indiana Republican Representative James Baird, a reliable ally on crypto legislation. Fairshake, backed by major firms like Coinbase and Ripple, has a massive war chest and is already directing millions toward other 2026 races. Baird's win coincides with advancing crypto bills in Congress, including the CLARITY Act, which recently overcame a key hurdle on stablecoin yield provisions. However, the legislation faces scrutiny, with some senators demanding added ethics rules before offering their support.

A war chest of $193 million. That’s what Fairshake, the crypto industry’s most powerful political action committee, reported holding as of January — and it’s spending that money fast.

Money Behind The Win

Indiana Republican James Baird cruised to victory Tuesday in his party’s primary for the state’s 4th congressional district, pulling in over 60% of the vote against challenger Craig Haggard and a handful of others.

Baird also had the backing of US President Donald Trump. But another force was working in his favor: Defend American Jobs, a Super PAC tied to Fairshake, poured roughly $514,000 into media buys supporting him ahead of the vote, according to filings with the Federal Election Commission.

Fairshake itself is bankrolled by some of the biggest names in crypto, including Coinbase and Ripple Labs. The committee spent over $130 million trying to shape the outcome of the 2024 elections. In 2026, it’s already at it again — about $10 million has been directed toward races in Illinois and Texas so far.

Source: NBC News

A Reliable Vote For The Industry

Baird has been in Congress since January 2019 and has built a record that crypto advocates consider dependable. He backed the GENIUS Act, which deals with stablecoin regulation, and the CLARITY Act, a bill focused on crypto market structure. For Fairshake, he was worth protecting.

“Representative Baird has been a proven leader for pro-job, pro-consumer, and pro-innovation policies in Congress,” a Fairshake spokesperson said.

“We’re proud to support leaders committed to responsible regulation that ensures the US remains the global leader in innovation.”

Baird reportedly thanked Trump publicly following his win.

BTCUSD trading at $80,137 on the 24-hour chart: TradingView

Legislation Moves Forward

The Indiana result comes as crypto-related legislation picks up momentum in Washington. Last week, Senators Thom Tillis and Angela Alsobrooks said they had finalized language in the CLARITY Act to include a compromise on stablecoin yield — a sticking point that had held up the bill for months.

The Senate Banking Committee had not yet scheduled a markup as of Wednesday, but many observers expect the stablecoin agreement to push the broader market structure legislation forward.

Trump’s relationship with the crypto industry has drawn scrutiny alongside these developments. Several senators have said they won’t support the CLARITY Act without ethics provisions attached to it.

Senator Tillis was among those who stated publicly he would not back the bill without such guardrails in place.

Featured image from MetaAI, chart from TradingView

PANews Column Registration and Article Submission Guide

"PANews Column Registration and Submission Guide" provides instructions for users to register as columnists and publish articles on the PANews platform. Key application requirements are emphasized: content should focus on in-depth analysis within Crypto, Web3, blockchain, data, and viewpoints. Content primarily for brand/product introductions will not be approved, and heavily AI-generated content will be rejected. Promotional (PR/soft) content is directed to the business channel. **Registration Process:** * **Web:** Go to the official website footer, click "Apply for Column," and register with a phone number or email (login via verification code, no password). Fill in the column name, description, upload an avatar, and submit links to previously published work. * **Mobile:** Navigate to "My" -> "Contribute & Create" and complete the form. **Article Submission Tutorial:** 1. Log in to the PANews website. 2. Access the "Creator Center" from your personal homepage. 3. Use the editor to create and publish articles. **Video Upload:** The platform supports embedding videos from third-party sites (e.g., Bilibili). Copy the embed code from the source video, use the editor's "Insert/Edit media" button, paste the code under the "Embed" tab, and adjust the display size (recommended: width 100%, height 560px). **PANews Skills (AI Agent Tool):** PANews offers an official AI Agent skill set called PANews Skills, enabling AI tools to query platform content, track trends, and publish column articles directly. It includes three main skills: 1. `panews`: For tracking daily must-read lists, popular articles, and funding news. 2. `panews-creator`: For managing columns, publishing articles, and uploading images. 3. `panews-web-viewer`: For parsing PANews webpages into Markdown. These skills are compatible with various AI Agent tools (OpenClaw, Cursor, Claude Code, ChatGPT, Gemini, etc.). To use the `panews-creator` skill, users must obtain a specific authentication value from the PANews website after logging into their columnist account.

marsbit9m ago

PANews Column Registration and Article Submission Guide

marsbit9m ago

I Built Myself an Investment Workbench Using AI

For the past two weeks, I've been immersed in Vibe Coding—using AI to write code from natural language descriptions. This process has enabled me to quickly build functional tools that address long-standing personal ideas. Previously, I had many concepts but found execution too cumbersome. Key ideas included a unified dashboard for assets across US stocks, Crypto, HK stocks, and A-shares; a real-time alert system for price movements; an investment map visualizing sector relationships; and a tool to correlate prediction market bets with news and market data. Traditional development hurdles meant these often remained unrealized. Using AI (Codex, Claude Code, and DeepSeek API), I built four initial tools: 1. A **Cross-Market Asset Dashboard** showing total assets, daily P&L, and holdings by market, with added features for alerts and sector mapping. It's deployed locally for privacy. 2. A **Prediction Market (PM) Monitor** tracking bets on events (e.g., company valuations) and correlating probability shifts with news and market movements. I categorize bets by conviction to filter noise. 3. A **Simple Operations Backend** for managing my writing workflow (topics, progress, publishing). It's cloud-deployed for mobile access. 4. A **One-Click Formatting Tool** that automates converting drafts into various platform-specific formats, saving manual effort. While these tools are basic, they represent a significant shift: AI lowers the barrier to creating personalized systems. I believe individual investors can now feasibly build core systems for: * **Asset Observation** (tracking holdings and changes) * **Signal Monitoring** (watching for key market shifts) * **Sector Mapping** (understanding network relationships within a sector) * **Performance Review** (documenting rationale and outcomes) The power of Vibe Coding is its fast feedback loop. Ideas can be implemented, tested, and iterated on rapidly, turning "want-to-do" into "done." This marks the start of my new phase, where I'll share investment thoughts, tool tests, on-chain operations, and educational Web3 content.

marsbit25m ago

I Built Myself an Investment Workbench Using AI

marsbit25m ago

Robinhood, the First Stock in the Predictive Market Concept

The online brokerage Robinhood, which previously partnered with prediction market platform Kalshi to offer event contract trading to its users, is now becoming a direct competitor. This shift began after Robinhood, through a joint venture, acquired and rebranded a CFTC-regulated exchange (now Rothera Exchange). Robinhood's motivation stems from the rapid growth of prediction markets on its platform, which significantly boosted its "other transaction revenue." Recognizing that its vast retail user base is the most critical asset, Robinhood aims to capture more value by routing orders to its own exchange instead of sharing fees with Kalshi. It strategically launched its Rothera platform during the high-traffic 2026 FIFA World Cup, successfully processing tens of millions of contracts in its initial days. This move signals a pivotal power shift in the prediction market industry: control over user distribution and access is emerging as a more decisive advantage than the underlying market infrastructure itself. The future competition may increasingly revolve around which platforms control the major user gateways.

marsbit30m ago

Robinhood, the First Stock in the Predictive Market Concept

marsbit30m ago

After Tokenization of Assets, How to Exit?

Title: How to Exit After Asset Tokenization? Author: Symbiotic Compiled by: Hu Tao, ChainCatcher Summary: Tokenization addresses how assets go on-chain but largely leaves the redemption question unresolved. While tokenized assets can settle instantly, the underlying redemption for assets like treasuries, private credit, or real estate can take from T+1 to 180 days. This gap hinders DeFi adoption of Real World Assets (RWAs). Three emerging models aim to provide instant exit liquidity, differing primarily in their capital structure and efficiency: 1. **Balance Sheet Model (e.g., Grove Basin):** A single entity (like Sky) provides immediate liquidity from its balance sheet, acting as a bridge during the settlement period. It offers simplicity and deep initial liquidity but is constrained by a single entity's capacity and risk appetite. 2. **Asset-Specific Vault Model (e.g., Upshift Clear):** Independent liquidity providers fund dedicated vaults for each supported asset, earning fees. It decentralizes capital sources but isolates liquidity and capital per asset, leading to potential fragmentation. 3. **Shared Liquidity Layer Model (e.g., Symbiotic Liquid Lane):** A shared capital pool supports multiple RWA types simultaneously. Funds remain productive between redemptions (e.g., earning yield in lending markets). Exits are settled via a competitive RFQ market. This model aims for higher capital efficiency, scalability across assets, and serves longer-duration assets like private credit. Key differentiators are: 1) Source of capital and risk bearer, 2) Redemption pricing mechanism, 3) Capital efficiency, 4) Scalability to new asset types, and 5) Composability. The shared liquidity layer model represents a move from piecemeal solutions toward scalable infrastructure, enabling T+0 exits by pooling capital, maintaining yield, and using competitive pricing, thus enhancing RWA utility in DeFi.

marsbit38m ago

After Tokenization of Assets, How to Exit?

marsbit38m ago

After Tokenizing Assets, How to Exit?

After tokenization, a key unresolved issue is providing holders with a reliable exit mechanism, as underlying asset settlement (taking days to months) lags far behind on-chain token settlement. Three primary models for instant liquidity have emerged, differing in their capital structure and efficiency: 1. **Balance Sheet Model (e.g., Grove Basin):** A single, well-capitalized entity (like Sky) provides immediate liquidity from its own reserves. This offers simplicity and deep initial liquidity but is constrained by that single balance sheet's capacity and risk appetite, limiting scalability. 2. **Dedicated Vault Model (e.g., Upshift Clear):** Independent liquidity providers (LPs) fund separate vaults for each supported asset. This decentralizes capital sources but isolates liquidity and capital, which becomes inefficient as the number of tokenized assets grows. 3. **Shared Liquidity Layer Model (Symbiotic Liquid Lane):** Independent capital providers fund shared vaults that can support multiple tokenized assets simultaneously. Capital remains productive between redemptions (e.g., earning yield in DeFi markets). Exits are settled via a competitive RFQ market where market makers bid. The article argues that the shared layer model offers superior capital efficiency and scalability. It transforms exit liquidity from an asset-specific patch into shared market infrastructure, allowing liquidity capacity to grow with overall market participation rather than being fragmented per asset. This is particularly valuable for longer-duration assets like private credit, where reliable T+0 exits can significantly enhance their utility in DeFi.

链捕手52m ago

链捕手52m ago

Trading

Spot

Futures

Hot Articles

How to Buy WIN

Welcome to HTX.com! We've made purchasing WINkLink (WIN) simple and convenient. Follow our step-by-step guide to embark on your crypto journey.Step 1: Create Your HTX AccountUse your email or phone number to sign up for a free account on HTX. Experience a hassle-free registration journey and unlock all features.Get My AccountStep 2: Go to Buy Crypto and Choose Your Payment MethodCredit/Debit Card: Use your Visa or Mastercard to buy WINkLink (WIN) instantly.Balance: Use funds from your HTX account balance to trade seamlessly.Third Parties: We've added popular payment methods such as Google Pay and Apple Pay to enhance convenience.P2P: Trade directly with other users on HTX.Over-the-Counter (OTC): We offer tailor-made services and competitive exchange rates for traders.Step 3: Store Your WINkLink (WIN)After purchasing your WINkLink (WIN), store it in your HTX account. Alternatively, you can send it elsewhere via blockchain transfer or use it to trade other cryptocurrencies.Step 4: Trade WINkLink (WIN)Easily trade WINkLink (WIN) on HTX's spot market. Simply access your account, select your trading pair, execute your trades, and monitor in real-time. We offer a user-friendly experience for both beginners and seasoned traders.

5.2k Total ViewsPublished 2024.03.29Updated 2026.06.02

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of WIN (WIN) are presented below.