Midterms expose crypto PAC impotence; Dems plan Trump probes

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7. Midterms expose crypto PAC impotence; Dems plan Trump probes

TL;DR: Crypto PACs including Fairshake spent $154.5 million in the 2026 midterms, yet many of their targets still won, including Sherrod Brown in Ohio. The results could give Democrats, who are poised to take control of Congress, greater momentum to pursue a broader crypto market structure bill that includes ethics provisions targeting Trump’s crypto ventures. At the same time, incoming committee leaders are signaling plans for investigations, with Justin Sun’s legal fight with World Liberty Financial potentially offering lawmakers a useful witness.

Key Takeaways:

Crypto campaign millions couldn’t buy results in the United States midterms, while newly empowered Democrats are looking at both new legislation and overdue investigations into Trump crypto profiteering in 2027.

Pour one out for the would-be Ozymandiases of the crypto campaign finance world, who somehow fared even worse than the Republican party as Tuesday’s midterm election votes were tallied.

Crypto political action committees (PACs) had vowed to strike down upon Democrats with great vengeance and furious anger in the midterms, but ended up spending a fortune to achieve precious little. The PACs’ electoral impotence was exceeded only by Elon Musk, who spent close to half-a-billion dollars promoting Republican candidates, to little avail.