Crypto firms have spent $189M so far on 2026 US election, report says
Crypto firms have spent $189 million so far on the 2026 U.S. election cycle, according to a new report. The spending, which includes donations to political action committees and direct contributions, reflects the industry's increasing efforts to influence policy and regulatory outcomes in Washington.
Background
- The US 2026 midterm elections are already drawing massive spending from cryptocurrency companies, which aim to elect candidates friendly to their industry.
- This spending is channeled through Super PACs (political action committees that can raise and spend unlimited money) and other advocacy groups, not given directly to campaigns.
- Coinbase and Ripple are among the largest donors. Fairshake, the main crypto-backed Super PAC, has raised over $100 million.
- The 2026 cycle follows the 2024 elections, where crypto firms spent more than any previous cycle ($130M+) and helped defeat several prominent anti-crypto incumbents.
- The industry's legislative priorities include clearer rules for digital assets, stablecoin regulation, and fighting SEC enforcement actions under Chair Gary Gensler.
- The $189M figure makes crypto one of the top-spending industries in this election cycle, rivaling traditional heavyweights like defense and energy.