Key takeaways:
- The TBC, a group that advocates for crypto and blockchain technology, declared that it had endorsed incumbent Ted Cruz for reelection to the US Senate.
- Following his announcement that he would not seek reelection, US President Joe Biden may have impacted Texas politics.
The Texas Blockchain Council (TBC), a group that advocates for crypto and blockchain technology, declared that it had endorsed incumbent Ted Cruz for reelection to the US Senate.
President Lee Bratcher announced in an X post on August 12 that the TBC would support the junior senator while Cruz spoke to a gathering at a Core Scientific mining plant in Denton, Texas.
Regarding Bitcoin as a means of “ensuring freedom and mining as a tool” for grid stability, Bratcher made hints that the Texas senator was aware of the technology. Cruz stated at the event in an X post:
“Crypto is the future.”
Cruz, a US senator since 2013, has previously discussed Bitcoin mining in the Lone Star State and the potential advantages mining operations could have for the state’s electrical grid at TBC events, such as the North American Blockchain Summit (formerly known as the Texas Blockchain Summit).
The Texas senator was assessed as “strongly” supportive of crypto by Coinbase’s Stand With Crypto political program, which considered his congressional voting record and tweets mentioning digital assets.
In November, Republican Ted Cruz will face Democratic write-in candidate Tracy Andrus, Libertarian Ted Brown, and Democrat Colin Allred. An ActiVote poll conducted as of July 18 gave Cruz an eight-point advantage over Allred.
Following his announcement that he would not seek reelection, US President Joe Biden may have impacted Texas politics. Kamala Harris, the vice president, agreed to accept the Democratic Party’s 2024 presidential nomination. According to polls, Harris might be ahead of Republican contender Donald Trump in several battleground states.
Riot Platforms and Core Scientific are the only two crypto mining firms based in Texas, one of the most significant state economies in the United States. The TBC’s legal team resisted demands from the federal authorities to gather miner data in February.
