Crypto Industry Spends Big in Midterm Elections

The crypto industry has rebounded from its earlier crash and is now flexing its political muscle in the US midterms.

According to an analysis by Public Citizen, crypto companies have spent over $206 million on this year's elections, more than any other corporate sector, including AI.

This spending spree is largely driven by Fairshake, a super PAC backed by the industry, which has a war chest of nearly $193 million and a reputation for backing winners from both parties.

Despite the industry's tumultuous past, including the 2022 crash that saw Bitcoin lose over 60% of its value, crypto interests are still a major force in US politics.