Crypto PACs hit $189M in 2026, topping 2024 cycle

The crypto industry has poured $189 million into the 2026 U.S. election cycle, a figure that already exceeds the roughly $170 million spent during the entire 2024 federal election, according to a report Tuesday from consumer advocacy group Public Citizen.

Crypto companies now account for about 37% of all corporate political contributions made so far in the 2026 cycle, the nonprofit estimated. That number could climb further with more than four months left before the November election.

Much of the spending runs through crypto-backed political action committees. Fairshake alone has spent more than $82 million during the current cycle. MAGA Inc., a Super PAC largely backed by Crypto.com, has spent more than $56 million.

Public Citizen said these organizations operate independently of traditional party priorities, supporting or opposing candidates from either major party depending on their policy positions. The group said this follows the same playbook used during the 2024 cycle.

Fairshake and its affiliated committees, Defend American Jobs and Protect Progress, continue to draw support from Coinbase and Ripple. Public filings cited by Public Citizen showed the network held a combined $193 million war chest as of January.

The report also pointed to newer political organizations created after the 2024 elections, including Fellowship PAC, which is backed by Cantor Fitzgerald.

Interest in crypto policy has expanded among voters. A DCG-Harris Poll found that 40% of registered voters now consider cryptocurrency a major election issue, up from 20% in 2024. The survey questioned 1,874 registered voters between May 8 and May 18 and included oversamples across Arizona, Georgia, Michigan, Nevada, North Carolina, Ohio, Pennsylvania and Texas.

DCG said the findings indicate that more voters are paying attention to how candidates address digital asset policy as Congress continues debating new crypto legislation.

Congressional efforts to establish a regulatory framework have unfolded alongside the industry's growing political activity. The CLARITY Act remains under Senate consideration, with supporters arguing that the legislation would define oversight responsibilities for U.S. crypto markets.

Coinbase, Ripple and more than 200 cryptocurrency organizations urged Senate leaders to schedule a vote on the bill, according to earlier reporting from crypto.news.

Galaxy Digital lowered its estimated probability of the CLARITY Act becoming law in 2026 to 50%, citing a tightening Senate calendar, limited floor time before the August recess, and a lack of visible progress in negotiations.

Political spending has also reached individual congressional races. Colorado voters headed to the polls Tuesday for primary elections, where Public Citizen highlighted activity in the state's 8th Congressional District.

The You Can Push Back Super PAC, backed by Ripple Labs co-founder Chris Larsen, spent $1 million on media supporting Democratic candidate Manny Rutinel. The committee's previous major expenditure totaled $3.3 million in support of Democrat Alex Bores in New York's 12th Congressional District. Bores lost his primary last week to Micah Lasher, who had criticized Larsen's involvement in the race.