Crypto industry spends $206 million to influence 2026 U.S. midterms

The cryptocurrency industry has emerged as a leading corporate political donor for the 2026 U.S. midterm elections, with sector-related contributions reaching approximately $206 million. This spending is largely driven by the Fairshake super PAC and its affiliates, which aim to influence digital asset regulation regardless of party affiliation.

Fairshake has announced plans to support 32 House candidates, including 19 Republicans and 13 Democrats. The selection process focuses on lawmakers who supported the CLARITY Act, a piece of legislation intended to establish a federal framework for digital asset markets. Six candidates are slated to receive $1 million each: Republicans French Hill, Bryan Steil, and Bill Huizenga, and Democrats Janelle Bynum, Steven Horsford, and Derek Tran.

The industry's strategic shift toward the House follows the failure of the CLARITY Act to advance in the Senate. By targeting members of the House Financial Services Committee, the industry seeks to ensure that future market-structure reforms and stablecoin regulations originate in the lower chamber. Fairshake, which is funded by companies such as Coinbase and Ripple, reported having over $120 million in cash on hand at the end of August.