Cryptocurrency political action committees (PACs) are celebrating a major victory after six pro-crypto candidates won their primary runoffs in Texas on Tuesday. With millions of dollars backing these campaigns, the digital asset industry is proving it has serious political muscle as it prepares for the next round of elections in California and five other states.
How Crypto Money Tipped the Scales in Texas
In Texas, candidates backed by crypto-affiliated PACs—including Fairshake, Defend American Jobs, and Protect Progress—swept their congressional and senatorial runoffs. Notably, Democrat Christian Menefee unseated incumbent Representative Al Green in the 18th congressional district. On the Republican side, state Attorney General Ken Paxton defeated incumbent Senator John Cornyn, capturing over 63% of the vote. Four other Republican candidates, Tom Sell, Alex Mealer, Jon Bonck, and Carlos De La Cruz, also secured victories in their respective districts after receiving heavy financial support from Defend American Jobs.
The financial backing behind these wins was massive. Federal Election Commission (FEC) records show these crypto-aligned groups poured more than $10 million into media and advertising to support the six Texas candidates. Fairshake, which reported a staggering $193 million war chest earlier this year, made its presence felt. A spokesperson for Fairshake noted that Representative Green’s defeat is a clear sign that anti-crypto hostility carries real electoral consequences, making him the first Democratic incumbent to lose his seat this cycle. With this momentum, the PAC plans to aggressively support pro-crypto leaders heading into the 2026 midterms.
California and Beyond: The Next Test for Crypto Voters
The political battleground now shifts to June 2, when California, Iowa, Montana, New Jersey, New Mexico, and South Dakota will hold their primaries. While Texas saw heavy investment, crypto PACs currently have a lighter footprint in these upcoming races. Protect Progress has spent roughly $500,000 supporting various Democratic congressional candidates across these states, focusing largely on California districts and Rob Menendez in New Jersey.
All eyes are now on California’s unique “jungle primary” for governor, where the top two candidates advance to the general election regardless of party affiliation. The gubernatorial race blew wide open following the recent scandal and resignation of candidate Eric Swalwell. Katie Porter, who lost her 2024 Senate primary after Fairshake spent $10 million on ads opposing her, is now on the ballot for governor.
So far, FEC filings show no new crypto PAC spending targeting Porter or other gubernatorial candidates. However, individual crypto executives are still placing their bets; Ripple co-founder Chris Larsen recently contributed $39,200 to Porter’s campaign and an equal amount to Republican Steve Hilton. As the primary approaches, prediction markets like Polymarket heavily favor Hilton and Xavier Becerra to secure the top two spots for November, while giving Porter only a fraction of a chance to advance.
