Republican

Green

[Clarification (17:49 UTC 5/27/2026) In the fourth paragraph, both Alex Mealer and Jon Bonck were the winners in their respective Republican runoffs.]
Crypto-backed political groups supported several winning candidates in Texas primary runoffs Tuesday, highlighting the digital asset industry’s growing role in US elections as Congress debates new rules for crypto markets.
Attorney General Ken Paxton <a href="https://apps.texastribune.org/features/2026/texas-primary-runoff-results-2026" rel="noopener noreferrer nofollow">won</a> the Republican US Senate runoff against four-term Senator John Cornyn by a wide margin, according to Texas primary runoff results, and will face Democratic state Representative James Talarico in November.
In Houston’s 18th Congressional District, Democrat Christian Menefee <a href="https://www.texastribune.org/2026/05/26/texas-18th-congressional-district-democratic-runoff-al-green-christian-menefee/" rel="noopener noreferrer nofollow">unseated</a> fellow Democrat representative Al Green in a decisive win after Republican-led redistricting forced the two incumbents into the same district, ousting one of the state’s most senior House members.
Republicans Alex Mealer and Jon Bonck also secured their party’s nominations in competitive Houston-area House races.
The contests drew heavy spending from crypto-aligned political action committees (PACs) focused on a small number of high-stakes races, and come as <a rel="noopener noreferrer nofollow">Congress debates new rules for digital asset markets</a>, including legislation to define crypto market structure and establish a framework for dollar‑pegged stablecoins.<img alt="Crypto-backed candidates win key Texas primary runoffs" height="867" src="https://s3-images.ctmedia.io/media/content/ag.png" width="1702">
Stand With Crypto assigned Al Green an "F" rating. Source: <a href="https://www.standwithcrypto.org/politicians/person/al---green" rel="noopener noreferrer nofollow">Stand With Crypto</a>
Victories by candidates backed by crypto-focused PACs in a politically influential state could give the industry additional allies as those measures advance.
<h2 id="crypto-money-reshapes-key-texas-races">Crypto money reshapes key Texas races</h2>
Two races in particular show how that money is being deployed. Protect Progress, an affiliate of the Fairshake super PAC backed by firms including Ripple and Coinbase, reported spending about <a href="https://cointelegraph.com/news/texas-primary-runoffs-crypto-pac-prediction-markets-newcomers" rel="noopener noreferrer nofollow">$5 million to support Menefee and a further $2.8 million</a> on advertising opposing Green in the Houston race.
Another crypto-focused group, Fellowship PAC, funded in part by financial firm Cantor Fitzgerald and crypto custodian Anchorage Digital, reported roughly $500,000 in spending to boost Paxton over Cornyn in the Senate runoff.
Fairshake’s Republican affiliate, Defend American Jobs, also <a href="https://www.followthecrypto.org/2026/states/texas" rel="noopener noreferrer nofollow">backed</a> four winning Republican candidates, Jon Bonck, Tom Sell, Carlos De La Cruz and Alex Mealer.
Related: <a rel="noopener noreferrer nofollow">Texas Lt. Gov. calls for study of crypto, prediction markets</a>&nbsp;
<h2 id="texas-runoffs-test-crypto-s-political-power">Texas runoffs test crypto’s political power</h2>
Bitcoin-focused policy advocate Dennis Porter commented on Menefee’s victory, <a href="https://x.com/Dennis_Porter_/status/2059456809723658625" rel="noopener noreferrer nofollow">saying</a>, “A pro crypto Democrat just ousted a 20-year incumbent Democrat who was anti crypto. Nature is healing,” a nod to what many in the industry saw as years of <a rel="noopener noreferrer nofollow">Democratic-led “Operation Choke Point 2.0,” campaigns</a>, in which bank regulators and enforcement agencies have been accused of squeezing crypto firms out of the financial system.
While much of crypto PACs' recent spending in the state has gone to Republican candidates, Menefee’s win gives the groups a high-profile Democratic ally in Texas.
The crypto advocacy group, Stand With Crypto, <a href="https://www.standwithcrypto.org/politicians/person/al---green" rel="noopener noreferrer nofollow">assigned</a> Green an F grade for his strong opposition to industry-backed legislation, while Menefee is rated as supportive of digital asset innovation.
Prediction markets had strongly favored the crypto-aligned challengers heading into election day. Contracts on regulated and crypto-native platforms implied odds of over <a href="https://news.kalshi.com/p/texas-senate-odds-trump-endorses-paxton" rel="noopener noreferrer nofollow">90%</a> that both Paxton and Menefee would prevail, with nearly $15 million reportedly traded on markets tied specifically to the Paxton vs Cornyn runoff.
Magazine: <a href="https://cointelegraph-magazine.com/guide-top-emerging-global-crypto-hubs-2026/" rel="noopener noreferrer nofollow">Guide to the top and emerging global crypto hubs — Mid-2026</a>

Crypto-backed candidates win key Texas primary runoffs

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