The crypto industry secured a major political victory in Texas after a series of crypto-backed candidates won key primary runoff races, highlighting the growing influence of digital asset lobbying groups in U.S. elections.
According to reporting shared by journalist Eleanor Terrett, crypto-backed political action committees (PACs) successfully supported winning candidates across multiple competitive races, with industry-backed candidates reportedly finishing the night with a perfect 6-for-6 record.
Among the most closely watched victories, Texas Attorney General Ken Paxton defeated longtime incumbent Senator John Cornyn in the Republican Senate primary runoff.
After receiving an endorsement from Donald Trump, Paxton’s campaign gained support from Fellowship PAC, which Tether reportedly backs. The PAC later disclosed that it had spent around $500,000 on advertising for the campaign.
Fairshake expands political influence across Texas
The crypto-backed super PAC network Fairshake also played a significant role in several Texas races. The organization and its affiliated groups reportedly spent around $6.5 million supporting Christian Menefee in the Texas 18th Congressional District race, where he defeated 20-year incumbent Al Green in the Democratic primary runoff.
Most of the spending reportedly supported Menefee directly, while a smaller portion targeted Green, who previously received an “F” rating from the crypto advocacy group ‘Stand With Crypto’ for his opposition to legislation such as the GENIUS Act and the CLARITY Act.
Following the result, Fairshake stated: “Rep. Green’s defeat proves that anti-crypto hostility carries real electoral consequences.”
The organization added that it plans to continue “aggressively backing” pro-crypto candidates nationwide.
Blockchain leadership fund and GOP races
The newly launched Blockchain Leadership Fund also supported several candidates during the Texas runoffs.
According to reports, the organization donated to Menefee as well as Republican candidate Jon Bouche in Texas’s 38th Congressional District race.
Meanwhile, Fairshake and its affiliates also spent roughly:
- $453,000 supporting Alex Mealer in TX-9
- $426,000 supporting Wesley Hunt in TX-19
- $607,000 supporting Carlos Gonzalez in TX-35
- $348,000 supporting Jon Bouche in TX-38
Later updates confirmed that Carlos Gonzalez also secured victory in TX-35, completing the clean sweep for crypto-backed candidates.
Crypto’s political power continues growing
The latest Texas results further demonstrate how rapidly the crypto industry is evolving into a major political force ahead of the 2026 U.S. election cycle.
Fairshake alone reportedly entered 2026 with a war chest approaching $193 million, making it one of the most financially powerful industry-backed political networks in the country.
The victories also reflect the growing importance of crypto policy in U.S. elections as lawmakers debate legislation tied to stablecoins, crypto market structure, digital asset oversight, and blockchain innovation.
Industry participants increasingly view electoral spending as critical to shaping future regulation in Washington, especially as Congress continues debating major bills like the GENIUS Act and CLARITY Act.
Also read: Digital Chamber Rebuts Senator Warren Over OCC Crypto Charters
