Crypto political spending hits $189M in 2026 midterm donations

Crypto is now the single biggest corporate political spender in the U.S. 2026 midterms.

Federal Election Commission data aggregated by Public Citizen shows the industry has pushed $189 million in donations, mostly to back pro-crypto candidates and oppose anti-crypto lawmakers. That is nearly $20 million more than the $170 million the sector spent in the 2024 election cycle.

At $189 million, crypto has given three times more than the next sector, AI and big tech, which contributed roughly $60 million. Betting came third, the data show. Overall corporate political spending has hit $517.5 million, meaning crypto alone accounts for 36.5% of all corporate lobbying money this cycle.

Republicans remain the primary recipients, with President Donald Trump's administration already delivering on a slate of crypto-friendly changes. The anti-SEC posture under former Chair Gary Gensler was scrapped. The GENIUS Act, establishing clear stablecoin rules, passed into law. Investigations into crypto debanking have moved forward, and broader integration with the banking sector has been pushed.

The key outstanding piece is the CLARITY Act, which has stayed stuck in a tight Senate calendar. If it fails to pass this session, the bill would extend into 2027, and the next Congress would decide its fate. That is the specific legislative outcome the industry is spending to defend.

Venture firm a16z topped the donor list with $51.65 million. Ripple Labs followed at roughly $50 million. Crypto.com and Coinbase contributed $38 million and $35 million each. Coinbase, unlike most of its peers, is actively backing pro-crypto Democrats. Fairshake PAC, one of the sector's largest lobby groups, received the bulk of its funding from Ripple and Coinbase and has been running campaigns in Georgia, Alabama, Nebraska, Kentucky, and Texas.

Fairshake spokesperson Josh Vlasto said everything was on the table to ensure only pro-crypto candidates win. Vermont Senator Bernie Sanders, who estimated crypto spending at roughly $288 million, called the effort legalized bribery.

The 2024 spending cycle helped propel the Trump faction to victory. This cycle is about keeping those gains and pushing the remaining legislation over the line.