Trump's War Chest Fuels Misleading Ads as Crypto Industry Seeks Favorable Regulations

President Donald Trump has amassed over $400 million through his super PAC, MAGA Inc., the largest midterm war chest ever. He's now aggressively spending this money on ads, some of which inaccurately accuse Democratic candidates of supporting MAGA policies. Others use false or fabricated claims to attack their opponents.

The crypto industry is also in Trump's crosshairs. A federal regulatory framework would legitimize and stabilize its business, benefiting Trump, who earned around $1.4 billion through his family's crypto ventures in 2025. Senator Cynthia Lummis released a new version of the Clarity Act, claiming it included more ethics requirements for Trump, but this did little to limit his business.

The Senate blocked the bill from advancing on a 49-50 vote. Meanwhile, the AI industry has tapped former Obama aide Jay Carney to build ties with Democrats. However, Carney brings considerable baggage to the role, having worked to quash privacy and AI regulations during his time at Amazon.