US Congress · U.S. · White House · CNBC Technology
Crypto industry pours more than $200 million into 2026 midterms to pressure Congress on favorable rules
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◌ Single Source
The largest group of single-issue super PACs in United States history is pouring millions of dollars into congressional races across the country.
Key facts
- Coinbase donated $25 million to Fairshake's midterm efforts in 2025, according to the super PAC
- A Marist poll conducted Oct. 15-18 showed Brown holding a four-point edge over Husted among likely voters statewide, within the margin of error of 4.5%
- The industry is hoping to repeat the success of 2024, when super PACs spent $250 million to elect pro-crypto lawmakers and reshape Congress
- Fairshake spent about $40 million to unseat Brown in 2024, when the then-Senate Banking Committee chairman had promoted tougher crypto regulation and stalled a House-passed market-structure bill
Summary
Cryptocurrency groups outpaced online betting and data center development groups in federal corporate political spending this election cycle, according to Public Citizen. The industry is hoping to repeat the success of 2024, when super PACs spent $250 million to elect pro-crypto lawmakers and reshape Congress. Crypto juggernaut Fairshake and its affiliated super PACs are throwing their support behind 33 House candidates, 19 Republicans and 14 Democrats, seen as key supporters of the industry's priorities. The network is prioritizing six House incumbents by injecting a baseline of $1 million into their campaigns.