Crypto-Backed Democratic Newcomer Defeats 20-Year Incumbent in Texas Runoff
Summary
- Christopher Menefee, who was backed by the cryptocurrency industry, defeated 20-year incumbent Al Green in the Democratic runoff primary for Texas's 18th Congressional District.
- Fairshake, the crypto industry's leading PAC, and affiliated groups spent about $6.5 million on ads supporting Menefee and on a campaign opposing Green.
- Fairshake said Green's defeat shows the political cost of an anti-crypto stance and pledged to continue actively supporting pro-crypto candidates.
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A Democratic newcomer backed by the cryptocurrency industry defeated a 20-year incumbent in the runoff primary for Texas's 18th Congressional District.
Christopher Menefee beat Rep. Al Green in the Democratic runoff, Eleanor Terrett, host of CryptoAmerica, reported on May 26.
Fairshake, the crypto industry's leading political action committee, and affiliated groups spent about $6.5 million on the race. Most of the money went to ads supporting Menefee, while part of it funded 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 legislation including the GENIUS Act and the CLARITY Act.
Fairshake said in a statement that Green's defeat shows an anti-crypto stance can carry real political consequences. The group also said it played a decisive role in the election.
It added that it will continue to actively support pro-crypto candidates such as Menefee.
