Politics · United States · 2 hrs ago
Crypto industry spends $176 million on US midterm election races
Ahead of the November 3 US midterm elections, the crypto industry spent about $176 million on more than 100 races.
The money was aimed at electing candidates seen as supportive of crypto and stopping industry critics from winning.
Coinbase and Ripple were among the companies backing Fairshake, a political group supporting crypto-friendly candidates.
The industry wants clearer rules and a more favorable regulatory climate for crypto businesses.
One goal is to improve the regulatory environment through legislation including the Clarity Act.
The sources do not say how the spending affected the election results or what happens next.
The US cryptocurrency industry spent about $176 million across more than 100 races in the 2026 midterm elections.
The spending aimed to help elect candidates seen as supportive of cryptocurrency and block candidates critical of the industry.
The industry sought clearer regulatory standards and a more favorable regulatory environment.
Coinbase and Ripple were among the companies that led support for the Fairshake political action committee.
The midterm election was scheduled for November 3.
- Who
- The US cryptocurrency industry, including Coinbase and Ripple.
- What
- It spent about $176 million across more than 100 election races.
- When
- Ahead of the US midterm election scheduled for November 3, 2026.
- Where
- The United States.
- Why
- To support candidates seen as favorable to cryptocurrency, block industry critics and seek a clearer, more favorable regulatory environment.
Cryptocurrency industry
Politicians critical of the cryptocurrency industry
Candidate support
Cryptocurrency industry
The industry backed candidates seen as supportive of cryptocurrency.
Politicians critical of the cryptocurrency industry
The article says the industry sought to prevent critical politicians from winning.
Regulation
Cryptocurrency industry
The industry sought clearer standards and a more favorable regulatory environment.
Politicians critical of the cryptocurrency industry
The article identifies these politicians as critical of the industry but does not state their specific regulatory views.
The cryptocurrency industry spent about $176 million across more than 100 election races ahead of the midterm election.
The US midterm election was scheduled to take place.
- Total spending
- About $176 million
- Election races
- More than 100
- Election date
- November 3, 2026
- Companies backing Fairshake
- Coinbase and Ripple