Political Action Committees (PACs) aligned with the cryptocurrency industry achieved further successes in Texas, solidifying the sector’s growing influence in U.S. politics, particularly under a more favorable administration. According to reporting by Eleanor Terret of Crypto In America, the crypto industry-backed candidates won all six races in the Texas primary runoffs held Tuesday night.
Anti-Crypto Sentiment Suffers Setback
A significant outcome emerged from the Democratic primary runoff in Texas’ 18th Congressional District. Terret reported that Representative Christian Menefee defeated incumbent Representative Al Green, who had held the seat for 20 years. Fairshake, the industry’s leading super PAC, claimed credit for the victory after spending approximately $6.5 million on the race, primarily through advertisements supporting Menefee.
Geoff Vetter, a Fairshake spokesperson, argued that Green’s loss demonstrated the potential electoral consequences of opposing cryptocurrency, noting that Green was the first Democratic incumbent to lose their seat this cycle. Vetter added that Fairshake would continue to “aggressively back” leaders like Menefee.
Further Victories for Crypto-Aligned Candidates
Elsewhere in Texas, several other races favored by crypto-aligned groups also resulted in wins. Candidates Alex Mealer, Tom Sell, John Bonck, and Carlos De La Cruz all secured victories in their respective runoffs. Fairshake reportedly spent roughly $1.8 million supporting these candidates.
Crypto-related efforts also played a role in some Republican outcomes. Attorney General Ken Paxton’s unexpected victory over Senator John Cornyn in the Republican Senate primary runoff reportedly received support from crypto-aligned funding.
California Primary Next Target
With the Texas primaries concluded, Terret reported that crypto political groups are already shifting their focus to upcoming elections. Maryland appears to be the next target for Fairshake. State lawmaker Adrian Boafo is running in the June Democratic primary for the state’s 5th Congressional District, and Fairshake has already spent about $2.12 million supporting his campaign.
The industry is also expected to concentrate on California’s top-two primary in the state’s 32nd Congressional District next week. In that race, Representative Brad Sherman, a long-time critic of cryptocurrency, is competing against Jake Levine, a former Biden White House official, as both seek to advance to November’s general election.
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