Curious Cryptos' Commentary 28th May 2026 > > Texas & a mistake.
- 1 hour ago
- 2 min read
tl;dr
The Texas mid-term primaries point the way forward to a crypto-friendly future. An expensive fat-finger mistake.
Market Snap
Market Wrap
Some indices make all-time highs (again) even as Trump rows back on his previous claims that a peace deal was close to being agreed. I am not sure if he thinks that perpetually confusing the world is a grand masterplan, but it doesn’t look like it from here.
Meanwhile BTC struggled overnight, and it’s not hard to understand why.
We have had eight consecutive days of spot BTC ETF outflows totalling a whopping $1.9bn which looks an awful lot like diminishing institutional appetite. Miners have been transferring BTC to Binance to sell to cover operating costs, putting further downward pressure on prices.
If the adherents to the four-year cycle are proven correct, much to my chagrin, we have another six months or so of fake rallies and scary drawdowns to suffer, all of which will eventually prove to be excellent buying opportunities, though it might not feel that way at the time.
Curious Cryptos’ Commentary – Texas
In a few of the primaries ahead of the November mid-terms, crypto PACs have put money behind pro-crypto candidates, for both parties.
The Republican US Senate runoff pitched four-term Senator John Cornyn against Attorney General Ken Paxton, the latter being the crypto-friendly one. He won by a large margin.
Meanwhile, in Texas’ 18th congressional district centred on Houston, old-timer Al Green who has served in Congress since 2005, was roundly beaten into second place by Christian Menefee, taking 31% of the vote. For this contest, crypto PACs paid for both positive advertising for Christian to the tune of $5mm, and negative advertising totalling $2.8mm for Green, motivated by this:
Good riddance is the only sensible response.
As both houses accumulate greater numbers of those from both parties who believe in liberty, freedom, and privacy, the process of enacting legislation to enable the crypto revolution becomes ever easier, and more far-reaching.
Curious Cryptos’ Commentary – Oops!
Five wallets funded in 2014 from centralised cryptocurrency exchanges, woke up on the 25th and transferred 107 BTC to a known burn address:
Worth over $8mm that is one big fat-finger mistake.
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