Crypto-Backed Democratic Newcomer Defeats 20-Year Incumbent in Texas Runoff
Summary
- Christopher Menefee, a political newcomer backed by the cryptocurrency industry, defeated 20-year incumbent Al Green in Texas's 18th Congressional District.
- Fairshake, the crypto industry's leading PAC, and its affiliated groups spent about $6.5 million on ads backing Menefee and a campaign opposing Green.
- Fairshake said Green's loss shows the political cost of an anti-crypto stance and that it will continue to actively support pro-crypto candidates like Menefee.
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A first-time Democratic candidate backed by the cryptocurrency industry defeated a 20-year incumbent in the runoff primary for Texas's 18th Congressional District.
Christopher Menefee defeated Rep. Al Green in the Democratic runoff, Eleanor Terrett, host of CryptoAmerica, wrote on May 26.
Fairshake, the crypto industry's leading political action committee, and its affiliated groups spent about $6.5 million on the race. Most of the money funded ads supporting Menefee, while some was used for a campaign against Green.
Green had previously received an F rating from Stand With Crypto, a Coinbase-backed crypto lobbying group. He is known for voting against major crypto bills including the GENIUS Act and the CLARITY Act.
In a statement, Fairshake said Green's defeat shows that an anti-crypto stance can carry real political consequences. The group added that it played a decisive role in the race.
Fairshake said it will continue to actively support pro-crypto candidates like Menefee.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
