Crypto-backed candidates win key Texas primary runoffs
Crypto-backed political groups supported several winning candidates in Texas primary runoffs Tuesday, highlighting the digital asset industrys growing role in US elections as Congress debates new rules for crypto markets. Attorney General Ken Paxton won 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 unseated 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. Democrats and Republicans Alex Mealer and Jon Bonck also secured their partys 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 Congress debates new rules for digital asset markets, including legislation to define crypto market structure and establish a framework for dollar‑pegged stablecoins. Stand With Crypto assigned Al Green an “F” rating. Source: Stand With Crypto Victories by candidates backed by crypto-focused PACs in a politically influential state could give the industry additional allies as those measures advance. Crypto money reshapes key Texas races Two races