Crypto Industry Has Spent Over $200 Million on the 2026 US Midterms

October 31: According to CNBC, cryptocurrency groups have become the largest group of single-issue super political action committees in US history. According to Public Citizen's tally, crypto-related organizations have spent more than $200 million on the 2026 midterm elections in this election cycle. The industry hopes to replicate its 2024 success; Fairshake and its affiliated super PACs are supporting 33 House candidates, including 19 Republicans and 14 Democrats, and have injected at least $1 million each into 6 incumbent House members.

The crypto industry's top current task is to push a digital asset market structure bill through, after the Clarity bill stalled in the Senate. The November election will test its influence, with one focal point being the Ohio Senate race, where Fairshake has spent $55 million opposing long-time crypto critic and Democratic candidate Sherrod Brown. Coinbase Vice Chairman Ryan VanGrack said the ultimate goal is to modernize the US financial system.