Crypto Midterm Spending Reaches $206M, With Industry's Network Holding $108M Cash Reserve

Crypto corporations have contributed $206 million to super PACs and hybrid PACs through the second quarter of 2026, according to Public Citizen's analysis of FEC records. This makes them the largest disclosed corporate donor sector in this midterm cycle.

The figure only accounts for contributions to these groups and does not capture ad spending. The industry's political apparatus is split across several organizations that each deserve separate accounting.

Fairshake, the central committee anchoring crypto's political network, reported $137.9 million in receipts and $93.9 million in disbursements through August 31. This leaves $108.3 million in cash on hand. The committee has transferred $70 million to two affiliated PACs built along partisan lines.

Coinbase contributed $56.1 million to the Fairshake network, including a $23 million Bitcoin donation dated December 2024 that carried forward into this cycle. Ripple Labs added $48.5 million, and Marc Andreessen and Ben Horowitz combined for $24 million in personal contributions.