Phyrex|Oct 28, 2026 07:07
The cryptocurrency industry has spent approximately $176 million in the midterm elections and participated in over 100 congressional elections.
As of October 20th, Fairshake, the largest super PAC in the crypto industry, and its affiliates had spent approximately $150.8 million. This money was primarily used for advertising, supporting crypto-friendly candidates, or opposing candidates deemed unfriendly by the industry.
Major funders behind Fairshake include Coinbase, Ripple, and a16z. Public filings show that Ripple donated approximately $48.5 million to Fairshake and its affiliates, Coinbase donated at least $25 million, and a16z contributed approximately $24 million.
In the House elections, Fairshake supported both Republican and Democratic candidates. However, after Democratic senators blocked the CLARITY Act, a crypto market structure bill, Fairshake opted to support only Republican candidates in this Senate race.
However, Coinbase also directly donated approximately $2 million to Republican-affiliated organizations and approximately $2.2 million to Democratic-affiliated organizations during this election cycle. These direct donations did not go through Fairshake.
In total, the disclosed donations from crypto companies to relevant political action committees amount to approximately $206 million, while non-crypto industry donations totaled approximately $646 million. The cryptocurrency industry accounted for at least one-third of the total donations in this midterm election.
Of course, the crypto industry's investment wasn't solely due to the Republican Party's perceived attractiveness; its aim was to garner more support in Congress and push for cryptocurrency regulatory legislation. Additionally, Republicans do tend to be more supportive of cryptocurrencies.
A @Gate, trading more markets.
Share To
Timeline
HotFlash
APP
X
Telegram
CopyLink