The cryptocurrency industry is significantly ramping up its political engagement in the United States, pouring substantial funds into Political Action Committees (PACs) to influence upcoming elections and shape regulatory debates. With the 2026 US midterm elections on the horizon, these industry-backed groups are actively expanding their reach, signaling an intensified effort to support pro-crypto candidates and oppose those deemed unfavorable to digital assets.
Fairshake Leads the Crypto Advocacy Push
A prime example of this burgeoning influence is Fairshake, a leading crypto industry-backed PAC that has amassed an impressive $193 million ahead of the 2026 midterms. This war chest, representing a 37% increase from its disclosed assets in July, includes significant contributions from major players like Ripple Labs ($25 million), a16z ($24 million), and Coinbase ($25 million in 2025). Fairshake’s spokesperson, Josh Vlasto, emphasizes the PAC's mission to combat "anti-crypto" politicians and champion "pro-crypto" leaders, aiming to safeguard consumers, foster innovation, and broaden access to the financial system. The PAC has already demonstrated its spending power, deploying over $130 million in media buys during the 2024 federal elections to back its preferred candidates.
A Broader Movement: Expanding Crypto's Political Footprint
Fairshake is not an isolated actor; it's part of a larger, coordinated effort by the crypto industry to exert political influence. Several other crypto-linked PACs have emerged or increased their activity. Entities tied to Gemini and Crypto.com notably contributed $21 million to a Super PAC supporting Donald Trump, while Gemini co-founders Cameron and Tyler Winklevoss personally donated $21 million in Bitcoin (BTC) to the Digital Freedom Fund PAC. Additionally, the Fellowship PAC declared having $100 million, and Kraken allocated $2 million to various funds, all aiming to fortify the "fight for crypto in America." As the 2026 elections draw nearer, this collective financial investment is expected to intensify, with key races, such as those involving former Senator Sherrod Brown and prominent XRP advocate John Deaton, likely to become focal points for crypto-backed political spending.
