Crypto industry spending on 2026 US midterms hits $189M

The crypto industry has already poured $189 million into the 2026 US midterm elections. That is more than the roughly $170 million it spent across the entire 2024 cycle. The midterms are still months away.

A Public Citizen report released June 30 puts the scale of crypto's political ambitions in stark terms. The sector now accounts for 37% of the $517 million in total reported corporate political contributions tracked so far this cycle.

Four firms account for the bulk of the spending. Andreessen Horowitz leads at $51.65 million. The venture capital giant has become crypto's most aggressive political patron. Ripple Labs is close behind at $49.6 million, reflecting years of regulatory conflict with the SEC. Foris DAX, a Crypto.com affiliate, has contributed $38.6 million. Coinbase rounds out the top four at $35.2 million, marking the exchange's shift from avoiding politics to treating lobbying as a core business function.

The primary vehicle is Fairshake, the crypto-focused super PAC. Industry players have given it $82.6 million this cycle alone. As of January 2026, Fairshake held a $193 million war chest.

Fairshake has already used that money in 2026 primaries, deploying over $12 million to support an Alabama Senate candidate. The super PAC backs candidates who favor crypto-friendly regulation regardless of party affiliation, and punishes those who don't.

Public Citizen's analysis notes that other industries, including AI and sports betting, are now copying crypto's model of funneling corporate cash into sector-specific super PACs to push friendly federal rules.