Crypto Industry Drops $200M on Midterm Elections
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.
This effort is led by four major crypto interests: Ripple Labs and co-founder Chris Larsen, Coinbase, the Winklevoss twins, and Crypto.com. These companies have contributed a combined total of around $202 million during the election cycle, according to New York Times campaign-finance data.
The industry's push for favorable regulations has already yielded one major victory: President Donald Trump signing the GENIUS Act last year, establishing a federal regulatory framework for dollar-backed stablecoins. Now, crypto companies are 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.