Crypto Midterm Election Spending Reaches $176 Million as Industry Builds for the Next Congress

The crypto industry has spent about $176 million across more than 100 midterm races this cycle, according to a Reuters review of campaign spending. The money is part of a plan to build a bipartisan coalition in Congress that can protect the sector after President Donald Trump leaves office.

Fairshake, the industry’s largest super PAC, leads the effort. The group spent $196 million in the 2024 cycle and is directing strategy again. Through October 20, Fairshake and its affiliate PACs had spent about $150.8 million this year, while other crypto groups spent around $25 million. Fairshake said 53 of the 58 candidates it backed in primaries or special elections won, and those candidates will be on the November 3 ballot, per Reuters. 

Super PACs can raise and spend unlimited sums but cannot coordinate with campaigns. Fairshake’s ads run through affiliates with names such as “Defend American Jobs” and “Protect Progress,” and they often focus on taxes and immigration rather than crypto. Voters have little way of knowing who pays for them. 

The watchdog group Public Citizen said crypto was the largest corporate spender in federal races in 2026. Crypto firms led corporate political spending at that point, citing the same watchdog’s analysis.