Crypto PACs spend $9 million in Texas and score wins in both parties

Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Crypto PACs spend $9 million in Texas and score wins in both parties Industry-backed PACs supported Democratic and Republican candidates alike, underscoring digital assets’ growing role as a cross-party electoral force. By Sam Reynolds | Edited by Omkar Godbole May 27, 2026, 6:12 a.m. 2 min read Make preferred on Crypto PACs spend millions in Texas in a bipartisan effort. (Clark Van Der Beken/Unsplash) What to know : Crypto-focused political committees spent more than $9 million in Texas this cycle, helping deliver a series of primary victories for industry-aligned candidates in both parties. Houston Democrat Christian Menefee ousted Rep. Al Green, a vocal crypto critic with an “F” rating from Stand With Crypto, in a rare incumbent-on-incumbent primary runoff shaped by Republican-led redistricting. Crypto-backed groups, including Fairshake affiliates and Fellowship PAC, also supported Ken Paxton’s successful challenge to Sen. John Cornyn and funded several winning Republican runoff candidates, signaling an aggressive push ahead of the 2026 midterms. Crypto-focused political committees are flexing their growing bipartisan political muscle in Texas, spending more than $9 million on races this cycle as Tuesday’s primaries deliver a string of wins for industry-backed candidates across both parties. Houston Democrat Christian Menefee defeated fellow Democrat Rep. Al Green in the Democratic primary runoff for Texas’s 18th Congressional District, after Republican-led redistricting dismantled Green’s longtime seat and forced the House Financial Services Committee member into a rare incumbent-on-incumbent showdown. Green had earned an “F” from crypto advocacy group Stand With Crypto after opposing key industry-backed legislation and warning that cryptocurrency could erode U.S. financial leverage abroad. “Rep. Green’s defeat proves that anti-crypto hostility carries real electoral consequences,” Geoff Vetter, a Fairshake spokesperson, told CoinDesk. “Fairshake was the difference-maker in this race, and we will continue to aggressively back leaders like Rep. Menefee across the country.” In the Republican Senate primary, Texas Attorney General Ken Paxton toppled longtime Sen. John Cornyn. In other races, Fairshake’s Republican affiliate, Defend American Jobs, and its Democratic counterpart, Protect Progress, backed candidates on opposite sides of the aisle, while the separate crypto-focused Fellowship PAC supported Paxton to the tune of $500,000. Elsewhere in Texas, Defend American Jobs spent roughly $1.8 million backing four winning Republican candidates: Jon Bonck ($348,433) , Tom Sell ($426,279) , Carlos De La Cruz ($581,172) and Alex Mealer ($436,278) . All four were low-turnout runoffs where the eventual nominee is typically heavily favored in November, making them efficient targets for a well-capitalized political network. Texas had only one night of primaries, but Tuesday’s results suggest the crypto industry is already positioning aggressively with a well-capitalized war chest for the 2026 midterms, when Democrats are favored — by a slim margin — to sweep both the House and Senate. Regulation More For You Trump praises prediction markets, defends CFTC as court cases compound By Nikhilesh De | Edited by Aoyon Ashraf 8 hours ago U.S. President Donald Trump said it was "critically important" that the CFTC keep "exclusive authority" over prediction markets, echoing CFTC Chair Michael Selig. Read full story Latest Crypto News Bitcoin vs gold: BTC's three-month uptrend has snapped 28 minutes ago XRP steadies near $1.32 as failed breakout keeps focus on narrowing trading range 1 hour ago Traders watch bitcoin 'golden cross' as BTC slides to near $75,000, ZEC dives 9% 1 hour ago Trump praises prediction markets, defends CFTC as court cases compound 8 hours ago Joe Lubin-backed Ethereum treasury firm SharpLink to join the Russel indexes 11 hours ago UK sanctions Huobi and ruble stablecoin issuer in crackdown on Russia crypto networks 12 hours ago Top Stories Coinbase’s Base launches AI tool for ChatGPT to manage crypto wallets and DeFi apps 14 hours ago XRPL could close its biggest DeFi gap if new AMM amendment passes 14 hours ago Strategy taps cash reserve to retire $1.5 billion in convertible debt 17 hours ago Bitmine made its largest ETH purchase this year despite Tom Lee's slowdown suggestion 16 hours ago Ondo Finance founder Nathan Allman dies unexpectedly 23 hours ago Bitcoin demand gauge sinks to worst level since December as spot buying weakens 18 hours ago