Crypto Industry Spends $8M on Failed CLARITY Act Lobbying Effort

The cryptocurrency industry spent nearly $8 million lobbying for the CLARITY Act, which recently failed a key Senate vote.

According to an analysis of federal lobbyist disclosures by CoinDesk, during the first half of 2026, cryptocurrency companies spent $13 million on lobbying activities. Of this total, $8 million was earmarked for the CLARITY Act.

Coinbase Global Inc. (NASDAQ:COIN) led the lobbying effort, spending approximately $2.2 million in support of the bill. Andreessen Horowitz's cryptocurrency investment unit, a16z crypto, contributed $1.5 million. Robinhood Markets Inc. (NASDAQ:HOOD), led by Vlad Tenev, shelled out $860,000 to push for the law.

Digital Currency Group, led by Barry Silbert, also contributed $790,000 to the effort. Despite this significant financial commitment, the legislation failed to advance in the Senate.