Crypto Firms Pour Millions into Midterm Elections

Crypto companies are stepping up their efforts to shape the national debate around cryptocurrency ahead of the 2026 midterm elections, pouring an estimated $189 million into the midterms in hopes of shifting the legal and regulatory playing field in their favor.

Three key players in this effort are Coinbase Global (NASDAQ: COIN), Strategy (formerly known as MicroStrategy) (NASDAQ: MSTR), and Circle Internet Group (NYSE: CRCL), the issuer of the USDC (CRYPTO: USDC) stablecoin. These companies are pushing for the passage of the Clarity Act, a new piece of crypto legislation.

Of these three companies, Coinbase is likely to be the biggest beneficiary of the new legislation, with its CEO Brian Armstrong consistently making the case that what's good for crypto is good for America. Circle's CEO Jeremy Allaire has also emphasized the importance of creating the right regulatory framework for crypto, and the company has been working to sign up financial institutions and banks for its Arc blockchain network.