Political efforts related to the crypto industry delivered another string of victories in Texas, reinforcing evidence that the sector’s influence in US politics remains strong under more pro-digital asset management.
According to reporting from Crypto In America’s Eleanor Terret, the crypto industry went 6-to-6 and backed winning candidates in the Texas primaries held Tuesday night.
Anti-Crypto hits at the ballot box
One of the largest results emerged from the Democratic primary in Texas’ 18th Congressional District. In that race, Terret reported that Rep. Christian Menefee defeated 20-year incumbent Rep. Al Green.
Fairshake, the industry’s leading super political action committee (PAC), took credit for the victory after spending about $6.5 million on the race, much of it through ads supporting Menefee.
A spokesperson for Fairshake, Geoff Vetter, argued that Green’s loss showed how anti-crypto positions can have real electoral consequences, noting that Green was the first Democratic incumbent president this cycle to lose his seat. Vetter also said Fairshake would “continue to aggressively support” leaders like Menefee.
Elsewhere in Texas, several other races also moved in the direction favored by crypto-oriented groups. Candidates Alex Mealer, Tom Sell, John Bonck and Carlos De La Cruz all won their respective runoffs. In total, Fairshake reportedly spent approximately $1.8 million supporting these candidates.
Crypto-related efforts were also part of some Republican results. Attorney General Ken Paxton’s victory over Senator John Cornyn in the Republican Senate primary also reportedly received support from crypto.
California Top-Two Primary Beckons
With Texas behind them, Terrett reported that crypto-political groups are already looking ahead to the next targets. The next state on Fairshake’s radar appears to be Maryland.
There, 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 him.
In addition, the industry is also expected to focus next week on California’s top two primaries in the state’s 32nd Congressional District. That race pits longtime crypto critic Brad Sherman against Jake Levine, a former Biden White House official, as both battle to advance to November’s general election.
Featured image created with OpenArt; chart from TradingView.com