[Crypto Industry Spends Nearly $170 Million Ahead of Election; Three Major PACs Lean Towards Republican Party] Odaily Planet Daily reports that in the final weeks leading up to the November 3rd US midterm elections, crypto industry-related political action committees (PACs) have further increased their political spending, generally leaning towards supporting Republican candidates. The three major crypto PACs have collectively invested nearly $170 million, with Fairshake and its affiliates contributing $154 million and reserving $56 million for the next round of elections. In addition, the Digital Freedom Fund, primarily backed by the Winklevoss brothers, has invested over $8 million this month, focusing on preventing Democratic candidates from winning Senate seats in Ohio, Texas, and Iowa. The Fellowship Fund, closely associated with Tether, previously invested $3.8 million in Republican candidates and subsequently invested $600,000 in Democratic candidates, including $300,000 supporting New York Representative Ritchie Torres. While the relevant PACs all lean towards supporting the Republican Party, the industry is still positioning its political spending as bipartisan and aimed at supporting crypto-friendly candidates. Fairshake's major financial backers include Coinbase, a16z, and Ripple Labs. This nearly $170 million in political spending by the crypto industry makes it one of the most active sectors in this round of US congressional elections. (CoinDesk)