Crypto industry looks beyond the US midterm elections
Crypto Briefing 2026-10-07 00:43:53
Context: The cryptocurrency industry is intensifying its political spending ahead of the 2026 US midterm elections, with a focus on supporting candidates who back the stalled CLARITY Act, which aims to establish a federal framework for digital asset markets. The industry has already spent more on the 2026 midterms than it did on the entire 2024 cycle, with a total of at least $206 million in political spending tied to the sector by October 2026. This strategic move is driven by the industry's desire to lock in rules that will survive regardless of which party controls Congress next.
Key Facts
- The cryptocurrency industry has spent at least $206 million on the 2026 US midterm elections by October 2026, surpassing its total spending on the 2024 cycle.
- The Fairshake super PAC network has been the primary channel for this spending, with between $120 million and $193 million in resources at the start of the election cycle.
- As of July 2026, the crypto sector accounted for more than one-third of tracked corporate political contributions, making it the top corporate political donor this cycle.
- Fairshake targeted Ohio Democrat Sherrod Brown with a nearly $30 million campaign against him in 2026, as part of its efforts to support 32 House candidates who back the CLARITY Act.