Recently, the cryptocurrency industry has become an important force in political fundraising in the United States, exchanging large donations for policy influence. The super PAC supported by Trump, MAGA Inc., raised nearly $177 million in the first half of 2025, with a significant portion coming from donations in the crypto industry. Meanwhile, independent media revealed that the total donations from the crypto industry to Trump's camp exceeded $26 million throughout 2025.
The fundraising methods are also creative. A "Crypto and AI Innovators Dinner" priced at $1.5 million per person has become a major fundraising platform, with participants including well-known figures from the crypto world, such as David Sacks, who use this opportunity to connect and communicate with Trump's core team. While such events help raise funds, they also spark ethical controversies—critics argue that this is akin to "buying a ticket to the White House."
Beyond the large flow of money, the crypto industry is also collaborating to build a political influence network. For example, the super PAC "Fairshake" receives funding from giants like Coinbase, Ripple, and Andreessen Horowitz, actively participating in several key primaries, supporting 28 out of 33 candidate elections, demonstrating a clear and efficient political strategy layout for the industry.
The Republican Party is also adjusting its fundraising style, encouraging low-profile but highly influential tech investors like Peter Thiel to continue exerting their invisible power rather than participating in a showy display of wealth.
The political landscape is quietly changing. The Democratic Party is gradually adjusting its strategy, attempting to attract support from crypto-friendly voters, with several Democratic officials publicly expressing support for current laws such as the GENIUS Act and the pending CLARITY Act. This shift reflects the potential electoral value of the crypto voter group in U.S. elections.
In the UK, there is also a debate regarding the legality of political donations in cryptocurrency. UK cabinet officials have suggested considering a ban on donations made in cryptocurrency, citing concerns over the transparency of donation sources and foreign funding interference. Meanwhile, Reform UK has become the first party in the UK to accept Bitcoin donations, drawing attention.
Against this backdrop, the U.S. government is advancing significant regulatory reforms. The GENIUS Act and the CLARITY Act will enter the congressional voting phase during "Crypto Week," establishing regulatory pathways for stablecoins and crypto assets. These policies respond to the crypto industry's demands for legislative transparency and regulatory certainty.
Despite the astonishing amounts raised, the public and media remain highly vigilant about potential conflicts of interest. Several crypto-related dinners hosted by Trump have drawn attention from multiple Democratic officials and senators, criticized as "the pinnacle of corruption" or "power for money." On the other hand, through low-profile strategies like that of Peter Thiel, the Republican Party internally reminds high-net-worth donors to "stay low-key and keep the funds flowing."
Currently, U.S. politics and cryptocurrency are deeply intertwined, with donations and policy influence mutually supporting each other. As the GENIUS Act and the CLARITY Act progress, the political and industry gamesmanship will intensify. Investors and the public need to pay attention to how power and wealth intersect within the boundaries of regulations and ethics, and whether the democratic system can withstand the influence of highly concentrated capital and value reshaping.
Related: Bitcoin (BTC) mining difficulty hits an all-time high, but is expected to decrease in August.
Original article: “The Crypto Industry Deeply Financing U.S. Political Campaigns — Power Intertwined with Tokens”
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