Crypto Industry Floods US Politics with $189M in Spending

The crypto industry is pouring millions of dollars into US politics, with Ripple and Coinbase emerging as top donors. According to Public Citizen's tally, the total crypto election spending in 2026 is near $189 million, accounting for approximately 37% of all corporate money in the cycle.

Ripple has contributed about $48 million this cycle, making it the second-largest corporate donor behind Andreessen Horowitz. The company also sent $1 million directly to John Deaton, a pro-crypto attorney running for Massachusetts's other Senate seat.

The industry's flagship super PAC network, Fairshake, operates with three affiliated entities: Fairshake itself directs funds to candidates across both parties, Protect Progress spends in Democratic races, and Defend American Jobs spends in Republican ones. This design allows the same money to work on both sides without appearing in the same place.

The network's strategy has been successful, with early money in low-turnout contests allowing it to contest dozens of races without needing to win a national argument about digital assets. The $193 million war chest remains unspent, with roughly $110 million available for the November midterms four months out.