Crypto’s midterm spending spree stumbles as Democrats rack up big wins
Despite spending $200 million, the industry’s preferred candidates lost key races and Democrats are poised to shape future crypto regulation.
- On Tuesday, Democrats regained control of both the U.S. House and Senate, despite crypto- and AI-backed super PACs spending more than $506 million this election cycle to influence congressional races.
- In Ohio, Democrat Sherrod Brown won his Senate race despite cryptocurrency-focused committees pouring more than $60 million into the state in an unsuccessful attempt to defeat him.
- Fairshake and its affiliates won 29 of 34 targeted races, according to a November 4 report by Reuters, though industry groups characterize results as mixed despite the high-profile defeats.
- The stalled CLARITY Act faces a change in congressional control and may lapse on January 3, 2027, as Near Foundation Chief Legal Officer Abhishek Vaidyanathan expects market structure legislation to move into 2027.
- Fairshake plans to remain active in the 2028 election cycle with approximately $56 million available, as Ripple CEO Brad Garlinghouse stated that industry priorities would remain unchanged under the new Congress.
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Crypto Midterm Results 2026: Who Writes the Rules Next
The crypto midterm results hand the industry's rulebook to its sharpest critics: Elizabeth Warren is set to lead Senate Banking, and Sherrod Brown, who beat over $60 million in crypto PAC spending, may oversee the CFTC. You'll still see agencies write rules, but new crypto laws look much harder to pass.
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The new Congress is expected to focus more on scrutinizing Trump's personal dealings in the cryptocurrency sector, rather than on legislation favorable to the industry The post Why the days are difficult for crypto after the US elections appeared first on in.gr.
The leaders of the US crypto industry could face a tough reckoning after Democrats won a landslide victory in the midterm elections, the Financial Times reports. Democrats, who hold majorities in both houses of Congress, have promised a comprehensive investigation into President Donald Trump’s family’s crypto dealings and their close ties to the industry, which could spell a painful time for the sector, which has flourished under the current adm…
Trump-era crypto bonanza faces reckoning as Democrats gain congressional power
For two years, the crypto industry enjoyed unusually favorable conditions, as Donald Trump championed digital assets, regulators eased restrictions and a Republican-controlled Congress advanced its agenda.Now, the crypto industry’s political...
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