BlockBeats report: On May 27, according to crypto journalist Eleanor Terrett, in the Democratic runoff for Texas’s 18th Congressional District, newcomer candidate Menefee defeated longtime incumbent Al Green, who had served for 20 years. The pro-crypto super PAC Fairshake and its affiliated entities collectively invested approximately $10.5 million in the race, with $6.5 million supporting Menefee and $4 million opposing Green. Green received an “F” rating from the crypto advocacy group Stand With Crypto due to his votes against pro-crypto legislation such as the GENIUS Act and the CLARITY Act, making him the first sitting Democratic congressman to lose an election in this cycle due to his anti-crypto stance.
In its post-election statement, Fairshake stated: “Representative Green’s defeat demonstrates that anti-crypto hostility has real electoral consequences. Fairshake was a key factor in this campaign, and we will continue to strongly support leaders like Representative Menefee across the nation.”