WASHINGTON, D.C. / CryptoWire.AI / – Crypto-linked organisations have contributed more than $200 million to the 2026 U.S. midterm elections as the industry seeks a Congress that will pass favourable rules. Cryptocurrency groups form the largest set of single-issue super PACs in American history, according to watchdog Public Citizen. They have outspent online betting and data centre groups in federal corporate political spending this cycle. Voters go to the polls on November 3.
The spending follows the 2024 cycle, when crypto super PACs spent about $250 million to elect industry-friendly lawmakers. Fairshake and its affiliated super PACs are backing 33 House candidates, 19 Republicans and 14 Democrats. Those candidates are seen as key supporters of the industry’s priorities. The network is giving at least $1 million each to six incumbents. They include Republicans Bryan Steil of Wisconsin, French Hill of Arkansas and Bill Huizenga of Michigan.
Steil chairs the House digital assets subcommittee, while Hill and Huizenga are the chair and vice chair of the House Financial Services Committee. The Democrats receiving at least $1 million are Janelle Bynum of Oregon, Derek Tran of California and Steven Horsford of Nevada. Fairshake’s war chest has been boosted by large company donations. Coinbase and Ripple each gave the super PAC $25 million in 2025, according to Fairshake.
Clarity Act stalls in the Senate
Coinbase contributed $79 million to federal races in the 2024 cycle, according to OpenSecrets, making it one of the largest corporate political donors in modern history. Ripple spent $63.65 million on federal contributions in the last election. A top goal for the industry is a full market structure law for digital assets. The bipartisan Clarity Act stalled in the Senate in September after Democrats said it did not do enough to stop top officials profiting from crypto ventures.
Coinbase vice chairman Ryan VanGrack told CNBC the aim is to bring the financial system into the 21st century. He said cheaper payments and easier investing should appeal to both parties at a time of concern over affordability. Ripple chief legal officer Stu Alderoty said the industry had seen a very good return on its spending. He cited the GENIUS Act, which President Donald Trump signed in July 2025, and clearer rules from regulators.
Ohio Senate race in focus
The industry is concentrating on the Ohio Senate race between Democrat Sherrod Brown, a longtime crypto critic, and Republican Jon Husted, who holds the seat. Fairshake spent about $40 million to unseat Brown in 2024 and told CNBC it has already spent $55 million against him this cycle. A Marist poll conducted October 15 to 18 showed Brown four points ahead among likely voters, within the 4.5-point margin of error.
Coinbase-backed advocacy group Stand With Crypto has endorsed 45 candidates, including three for the Senate. Voter concerns could weigh on the industry’s agenda. A Gallup poll in September found a record 89% of U.S. adults see government corruption as widespread. Former New York governor Andrew Cuomo, now an OKX board member, said new crypto laws are unlikely if Congress changes hands in January. He said a divided government would leave regulators under the scrutiny of a hostile Congress.