Crypto Sector Channels Over $200 Million into US 2026 Midterm Elections

Deep News10-31 22:10

According to Public Citizen, cryptocurrency groups have outpaced online gambling and data center development groups in federal corporate political spending during the current US election cycle.

Crypto-related organizations have already invested more than $200 million in this election cycle.

The industry is aiming to replicate its 2024 success, when super PACs spent $250 million to elect pro-crypto lawmakers and reshape the congressional landscape.

Crypto giant Fairshake and its affiliated super PACs are backing 33 House candidates — 19 Republicans and 14 Democrats — who are seen as key supporters of the industry's priorities.

The network is prioritizing six House incumbents, injecting at least $1 million in base funding into their campaigns.

The Republicans include Bryan Steil of Wisconsin (who chairs the House Digital Assets Subcommittee), as well as French Hill of Arkansas and Bill Huizenga of Michigan (who serve as chairman and vice chairman of the House Financial Services Committee, respectively).

Democratic lawmakers receiving at least $1 million from Fairshake include Oregon Representative Janelle Bynum, California Representative Derek Tran, and Nevada Representative Steven Horsford.

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