James Talarico has become the first Democrat to win the Texas Senate seat since 1998. He defeated Republican Ken Paxton in the most expensive Senate race in American history. Elon Musk, who s
James Talarico has become the first Democrat to win the Texas Senate seat since 1998. He defeated Republican Ken Paxton in the most expensive Senate race in American history.
Elon Musk, who spends a significant amount of time in Austin, Texas, donated at least $212 million to support Paxton. In total, at least $573 million had been poured into support for both Paxton and Talarico ahead of the vote yesterday.
Elon Musk, chief executive officer of Tesla, during the EEI 2023 event in Austin, Texas, US, on June 13, 2023.Getty Images
After his victory in the Nov. 3 midterm election, Talarico said Musk wanted a senator who could do his bidding and sell off Texas land and water to his data centers.
"I think last night the people of Texas delivered a crystal clear message to the world's first trillionaire: Texas is not for sale."
At a news conference in Austin in July, he proposed tighter regulations on data centers in Texas:
Talarico said he isn't against innovation or technology but called for Texans having a say and a share of the economic growth.
"Data centers in space looking pretty appealing right now," Musk posted on X after the election upset.
According to Tech Influence Watch, crypto PACs, including Fairshake, Defend American Jobs, and Protect Progress, spent more than $170 million of their roughly $260 million war chest on the midterms.
In the Texas Senate race, Digital Freedom Fund and Fellowship PAC spent $853,338 to support Paxton in the general election and Republican primary runoff.
Digital Freedom Fund and Fellowship PAC spent $514,380 to oppose Talarico in the general election.
However, Ripple Labs, Google, veteran investor Ron Conway, and six other companies (or their executives) contributed $1,789,900 in direct support of Talarico.
Notably, the senator-elect from Texas doesn't blindly oppose Bitcoin (BTC). As a state representative, Talarico last year voted in favor of SB 21, a bill that created the Texas Strategic Bitcoin Reserve.
While it's clear Talarico is not someone looking for a blanket ban on Bitcoin or crypto, he is not a blind supporter of the data center boom. The crypto industry's spending reflected the split verdict on the upcoming Texas senator.
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