Crypto firms spend $189 million to sway 2026 U.S. midterms

Crypto companies had already poured $189 million into the 2026 U.S. midterm elections, a sum Public Citizen said made the industry the largest corporate political spender so far this cycle. More than one-third of all corporate money given to the November elections and primaries had come from crypto, underscoring how quickly digital-asset firms have moved from niche donors to heavyweight players in Washington.

The money is flowing into a Congress that will decide the next round of rules for the industry. The House and roughly a third of the Senate are on the ballot in November, giving crypto backers a chance to shape both the makeup of Congress and the legislative fight over digital-asset oversight. The sector spent $170 million in the 2024 cycle, and many of the candidates it supported won, leaving the industry with fresh proof that campaign spending can translate into friendlier lawmakers.

Fairshake, the super PAC that has become the central political vehicle for pro-crypto spending, had received $82 million in donations this cycle, according to Public Citizen. Federal Election Commission records show Fairshake entered 2026 with $191,042,918.96 in cash on hand and ended January with $191,321,522.92, after raising $135,558,679.35 and spending $74,009,156.62 from Jan. 1, 2025, through May 31, 2026. By the end of May, the committee still had $125,793,720.67 available.

The donor list includes some of the industry’s most powerful firms and investors, among them Andreessen Horowitz, Ripple Labs, Foris DAX, which is linked to Crypto.com, and Coinbase. Crypto money has also been moving alongside other major corporate political forces this cycle. Public Citizen said spending by crypto, artificial intelligence, big tech and online betting companies had reached $294 million so far.

The political goal is clear: a friendlier legal environment. Crypto’s 2024 spending helped produce a Congress more receptive to industry-backed legislation, including a federal stablecoin framework. That success has sharpened the push for the CLARITY Act, a broader market-structure bill that would create a more formal regulatory system for cryptocurrencies. The measure was placed on the Senate legislative calendar on June 1, 2026, showing that the industry’s spending is rising in step with an active legislative campaign.

Public Citizen’s broader analysis put the stakes in even starker terms. It said tech corporations, executives and investors spent $1.2 billion on political influence during and since the 2024 elections, and that 47 enforcement actions against 45 tech corporations were withdrawn or halted early in President Donald Trump’s second term, including 23 involving cryptocurrency corporations. For crypto firms, the midterm money is not just about winning races. It is an attempt to lock in leverage over the rules that will govern the next phase of digital finance.