The cryptocurrency industry has spent approximately $176 million across more than 100 U.S. midterm races, seeking to establish a bipartisan group of lawmakers willing to support digital-asset interests after President Donald Trump leaves office.
The spending is being led by Fairshake, the sector’s largest super PAC, alongside affiliated political committees and other crypto-backed groups. According to reporting reviewed by Bitcoin Magazine and based on a Reuters examination of campaign spending, Fairshake and its affiliates had spent about $150.8 million through October 20. Other crypto organizations had added roughly $25 million.
The scale of the campaign makes crypto one of the most prominent corporate forces in the 2026 federal elections. Public Citizen, a watchdog organization, said the industry was the largest corporate spender in federal races at the point of its analysis.
Fairshake leads a broad political operation
Fairshake spent $196 million during the 2024 election cycle and has again become the central vehicle for the industry’s election strategy. The group said 53 of the 58 candidates it supported in primaries or special elections won, leaving those candidates on the ballot for November 3.
The political committees involved are legally able to raise and spend unlimited amounts, although super PACs cannot coordinate directly with candidate campaigns. Fairshake often places advertising through affiliates with names including “Defend American Jobs” and “Protect Progress.” Those advertisements frequently emphasize issues such as taxes and immigration instead of explicitly discussing cryptocurrency, making it less obvious to voters who is funding them.
Coinbase, Ripple and Andreessen Horowitz are identified as the principal financial backers. Industry strategists and campaign staff described the spending as a way to establish relationships with elected officials, rather than simply as an effort to win individual contests.
The strategy also extends to major individual donors. Cameron and Tyler Winklevoss each contributed about $13 million during the current cycle, with most of their donations going to MAGA Inc.
From limited access to legislative influence
Crypto’s political activity reflects a significant change from the sector’s earlier position in Washington. In 2018, lawmakers seeking to hold the first bipartisan crypto roundtable could not obtain a room in either the House or Senate office buildings and instead met at the Library of Congress.
The industry’s political urgency increased during the Biden administration. A Georgetown University Law Study said the Securities and Exchange Commission imposed more than $6 billion in penalties across 98 cases during that period. Industry executives subsequently concluded that the sector needed a stronger presence in electoral politics.
Coinbase Chief Policy Officer Faryar Shirzad helped launch Stand With Crypto and Fairshake in 2023. Stand With Crypto’s assessment of lawmakers rated “A” increased to 332 from 96 when the group began.
The effort has already produced one major legislative result. The GENIUS Act, enacted in 2025 with broad bipartisan support, established the first federal regulatory framework for stablecoins. Stablecoins are digital assets designed to maintain a relatively stable value, often by referencing a currency or other asset.
The industry’s next legislative objective is the Clarity Act, which would place oversight under the Commodity Futures Trading Commission. The bill stalled during the current session after Senate Democrats blocked it from reaching a final vote over an ethics provision requiring the Trump family to sell its crypto holdings.
Fairshake also played a role in the 2024 defeat of Sherrod Brown, then chair of the Senate Banking Committee. For Brown’s rematch with Republican Jon Husted, the group has spent more than $68 million, according to AdImpact. Fairshake’s advertising against Brown does not mention cryptocurrency. Brown campaign manager Patrick Eisenhauer said “the special interests are panicking.”
In Illinois, Fairshake spent more than $10.1 million opposing Lieutenant Governor Juliana Stratton and another $2.5 million against state Representative La Shawn Ford. Both candidates are nevertheless expected to win on November 3.
Voters show interest, but not always under the crypto label
Public opinion data suggests that digital assets have gained some reach while remaining a complicated political issue. A September Ipsos survey of 1,545 U.S. adults, seen by Bitcoin Magazine and commissioned by the DeFi Education Fund, found that 22% of respondents had owned or used cryptocurrency, compared with 18% in 2025.
The same survey found that only 19% believed the U.S. financial system was secure. Meanwhile, 35% said it was important for candidates to support the development of the next generation of financial technology in the United States. When the question specifically referred to blockchain, crypto or decentralized finance, however, only 13% gave that response. The DeFi Education Fund is a digital-asset advocacy organization, so its framing and sponsorship are relevant context for interpreting the findings.
Stand With Crypto leaders have argued that crypto voters could determine the midterm outcome. The industry’s spending shows that its broader objective is to make digital assets a lasting congressional issue, including beyond the current administration.
Current market picture
Moneyiar market data at 22:39 on October 25, 2026, showed Bitcoin at $80,430.5068, down 0.08% over 24 hours and 1.32% over seven days. OFFICIAL TRUMP was priced at $1.65477, down 1.10% in 24 hours and 2.88% over seven days.
Nexus stood at $0.0000006151, gaining 1.61% over 24 hours but falling 13.97% over seven days. Alchemy Pay was priced at $0.00505193, down 2.05% over 24 hours and 2.83% over seven days.
