Cryptocurrency companies have poured $189 million into influencing the 2026 U.S. midterm elections so far, already exceeding what the industry spent during the last election cycle, according to a newly released report from Public Citizen, a consumer advocacy group.
The crypto sector now accounts for more than one-third of all corporate money donated to this year’s November elections and the primary contests leading up to them — making it the single largest corporate political spender in the country, the group found.
The industry was also the top corporate donor during the 2024 election cycle, when it contributed $170 million and helped elect numerous congressional candidates who backed crypto-friendly positions.
Artificial intelligence companies, major tech firms, and online betting businesses have also opened their wallets in a big way. Together with crypto, those industries have collectively spent $294 million on the 2026 elections to date. This November, every seat in the House of Representatives will be on the ballot, along with roughly one-third of Senate seats.
“The big takeaway is that corporate money is playing a bigger role than ever in our elections, and it’s only expanding,” said Rick Claypool, a research director at Public Citizen who authored the report.
Public Citizen tracked contributions made through political action committees, known as PACs, which collect donations from multiple sources and funnel them toward candidates or political causes.
According to the report, venture capital firm Andreessen Horowitz, Ripple Labs, Foris DAX — which is affiliated with Crypto.com — and Coinbase ranked as the four largest contributors to PACs focused on advancing business-friendly policies.
The crypto industry’s heavy investment in the 2024 elections paid significant dividends, helping bring in a Congress more willing to champion legislation favorable to digital assets. Much of that spending flowed through super PACs, which face no limits on how much money they can raise or spend — a pattern that appears to be continuing in 2026.
Fairshake, a major super PAC dedicated to backing pro-crypto candidates, has already pulled in $82 million in donations during this election cycle, according to Public Citizen.
The industry’s 2024 spending helped produce a concrete policy win last year when Congress approved a law establishing a federal framework for stablecoins — dollar-backed digital tokens — which supporters say will encourage wider adoption of cryptocurrency. That legislation passed with backing from both parties in both chambers.
Now the industry is pushing for additional measures, including a bill called the Clarity Act, which would create a broader regulatory structure for cryptocurrencies. Crypto companies argue the legislation is essential to the future of U.S. digital assets and would resolve fundamental legal problems facing the sector.
That bill has hit a wall in the Senate, and it remains uncertain whether it will clear that chamber before the November elections, when Democrats are projected to retake control of the House. If the Senate does not act this year, analysts say the bill is unlikely to become law anytime soon. Many Democrats have opposed it, arguing it does not do enough to stop politicians — including President Donald Trump — from personally profiting off crypto ventures.
Trump actively courted crypto industry support during his campaign, and his family has benefited financially from its own digital token. During his second term, crypto policy reform has been a stated priority, and the White House has been actively lobbying for the bill’s passage, according to Reuters.
