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highplainsdem

(63,321 posts)
Wed May 27, 2026, 10:59 PM Wednesday

Crypto's Most Powerful PAC Sends a Warning to Politicians: Resistance Is Futile (Gizmodo, 5/27/26)

https://gizmodo.com/cryptos-most-powerful-pac-sends-a-warning-to-politicians-resistance-is-futile-2000764198

Congressman Al Green, the incumbent representative for the 18th Congressional District in Texas, lost to fellow House Representative Christian Menefee in a runoff election in the Democratic primary for a seat in Congress on Tuesday, and one crypto-focused political action committee (PAC) announced that the loss should be taken as a warning shot to future candidates. Fairshake and other crypto-related PACs dumped millions of dollars into the primary election to oust Green, who has held a seat in Congress for twenty years.

The contest played out across multiple stages following Republican-led redistricting that effectively merged elements of two Houston-area congressional districts into one. The redraw consolidated portions of both incumbents’ districts into a newly drawn 18th, forcing the two Democratic incumbents to compete against each other. In the March primary, both Menefee and Green advanced as the top two finishers but fell short of a majority, forcing the runoff, which Menefee won with nearly 70% of the vote. The victory in the safely Democratic district means Menefee is heavily favored in the November general election.

Fairshake and its affiliated group Protect Progress poured millions into backing Menefee, with The Texas Tribune reporting more than $4 million in outside spending from one crypto super PAC alone, the Fairshake-affiliated Protect Progress. According to The Block, Green earned an F rating from the industry-aligned Stand with Crypto group after voting against both the GENIUS stablecoin legislation and the Clarity Act. Green had also publicly warned that digital assets could undermine the dollar’s global dominance and pose risks to national security. In contrast, Menefee received an A rating from the same group and has spoken positively about blockchain’s potential to improve trust, transparency, and efficiency in finance and supply chains.

Once the results became clear, Fairshake released a confrontational statement: “Rep. Green’s defeat proves that anti-crypto hostility carries real electoral consequences, making him the first Democratic incumbent this cycle to lose his seat. Fairshake was the difference-maker in this race, and we will continue to aggressively back leaders like Rep. Menefee across the country.”

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Crypto's Most Powerful PAC Sends a Warning to Politicians: Resistance Is Futile (Gizmodo, 5/27/26) (Original Post) highplainsdem Wednesday OP
This is unsustainable. Like all the other bullshit of the past. Klarkashton Wednesday #1
I thought crypto was failing................. Lovie777 Wednesday #2
They didn't make the $4 million outside spending in crypto... Hugin Wednesday #3
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