Crypto Industry Becomes One Of Midterms’ Biggest Political Players

The midterms are shaping up to be a battle of bank accounts as much as ballot boxes, and one industry in particular is putting an enormous amount of money behind its political priorities.

The cryptocurrency industry has emerged as one of the largest sources of political cash in the 2026 elections, pouring roughly $200 million into the midterm cycle as it seeks to elect a Congress willing to rewrite the rules governing digital assets.

Four major crypto interests alone — Ripple Labs and co-founder Chris Larsen, Coinbase, the Winklevoss twins, and Crypto.com — have contributed roughly $202 million during the election cycle, according to the New York Times campaign-finance data published Friday. 

Ripple and Larsen have given $65.7 million, according to the Times. Coinbase has contributed $55.2 million, Cameron and Tyler Winklevoss have given $42.7 million, and Crypto.com has contributed another $38.6 million.

At the center of that effort is Fairshake, a crypto-focused super PAC whose affiliated groups operate on both sides of the aisle. Fairshake had raised nearly $137 million during the 2026 elections by July, according to FEC records.

Reuters reported in August that the industry has backed a bipartisan collection of candidates who have generally supported crypto-friendly candidates. Congress has already delivered one major victory on that front, with President Donald Trump signing the GENIUS Act last year, establishing a federal regulatory framework for dollar-backed stablecoins.

Now, the industry is pushing for the CLARITY Act, which would establish broader rules for digital assets and delineate regulatory authority over the industry.

The legislation has become a major priority for crypto companies, which have spent more than $225 million on lobbying since Trump returned to the White House, according to the Financial Times.

The bill passed the House but has encountered resistance in the Senate, including from Republicans concerned about its implications for traditional financial institutions.

Not to be outdone, traditional partisan mega-donors such as Republicans Jeff Yass, Miriam Adelson, Richard and Elizabeth Uihlein, Paul Singer, Ken Griffin and Democrats George and Alex Soros remain major players, pouring hundreds of millions into races across the country.

But the Times’ list of the 20 largest donors shows how quickly technology and industry-specific political interests have moved into the upper echelon of campaign finance.

Marc Andreessen and Ben Horowitz, along with their venture capital firm Andreessen Horowitz, lead the list with $115.3 million in contributions. Elon Musk follows with $90.5 million, while OpenAI co-founder Greg Brockman and his wife Anna have contributed $50 million.

Andreessen Horowitz is a major funder of Fairshake while also backing Leading the Future, a super PAC focused on electing politicians favorable to the artificial intelligence industry.

Reuters reported that the firm has contributed more than $81 million to political action committees focused primarily on crypto and AI, while its founders have also made personal contributions.

For all the tech dollars pouring into the political arena, however, the traditional party structures remain the sweetest plum.

Republican committees and allied congressional super PACs entered the general election with roughly $657 million in cash on hand, compared with approximately $334 million for Democratic committees and their allied organizations. President Trump’s MAGA Inc. super PAC adds another enormous reservoir of Republican-aligned money, with more than $400 million available heading into the final months of the campaign.

With the general election approaching, the cryptocurrency industry has amassed enough political firepower to make sure lawmakers in both parties are listening.