Crypto Blitzes Midterms with $176 Million to Support Allies as It Prepares for Post-Trump Era
Industry groups and crypto companies are backing candidates in more than 100 races to build support for market rules after Trump leaves office.
- The crypto industry has spent roughly $176 million across more than 100 midterm races this election cycle to build a bipartisan coalition in Congress that can advance its interests after President Donald Trump leaves office in 2029.
- Building on the 2025 GENIUS Act that established federal stablecoin rules, industry lobbyists are pushing for the Clarity Act to transfer crypto oversight to the Commodity Futures Trading Commission, a shift stalled in the current Senate.
- Major super PAC Fairshake, funded by Coinbase, Ripple, and Andreessen Horowitz, directed roughly $150.8 million into midterm contests through October 20, including more than $68 million toward Ohio's Senate race between Democrat Sherrod Brown and Republican Jon Husted.
- Fairshake's aggressive advertising sparked backlash, with spending over $10 million against Illinois Lieutenant Governor Juliana Stratton and $2.5 million against state Representative La Shawn Ford, who called the ads "personal and hurtful."
- Solana Policy Institute official Colin McLaren called the spending "an investment in the future" designed to ensure the industry has "clear rules of the road" for 100 years, though analysts warn agency regulations adopted under Trump could be reversed after 2029.
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188 Articles
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