Crypto Industry Spends $176 Million Ahead of US Midterm Elections
What Happened
Cryptocurrency industry groups have spent approximately $176 million across more than 100 US congressional races ahead of the November 3, 2026, midterm elections. Campaign finance records reviewed through October 20 show that Fairshake and its affiliated political committees accounted for about $150.8 million. Major industry backers include Coinbase, Ripple and Andreessen Horowitz, with spending directed toward supporting preferred candidates and opposing others.
Key Takeaways
The spending reflects the cryptocurrency industry's efforts to build support across Congress for digital asset legislation. Its priorities include reviving the stalled CLARITY Act, which would establish a federal regulatory framework.