Crypto firms emerge as biggest corporate political spenders in 2026 U.S. midterms

Investing.com -- Cryptocurrency companies have poured $189 million into influencing the 2026 U.S. midterm elections, already surpassing the $170 million they spent during the 2024 election cycle, according to a report released by consumer advocacy group Public Citizen.

The report estimates that the crypto sector accounts for more than one-third of all corporate political spending tied to this year's congressional races and related primaries, making it the largest corporate source of election funding. The industry also led corporate political donations in the 2024 election cycle, when many of the candidates it backed secured victories.

The crypto industry has already secured significant policy victories. Last year, Congress approved legislation establishing the first federal regulatory framework for stablecoins, cryptocurrencies pegged to the U.S. dollar, in a move supporters say will encourage broader adoption of digital assets.

The sector is now pressing lawmakers to pass additional legislation, including the Clarity Act, which would establish a broader regulatory framework for cryptocurrencies. Industry advocates argue the measure would provide long-sought legal certainty and address key regulatory challenges facing digital asset companies.

Public Citizen said companies in the artificial intelligence, technology and online gambling industries have also ramped up political spending. Together, those sectors and the crypto industry have contributed about $294 million toward the 2026 elections, ahead of November's contests for the entire House of Representatives and about one-third of the Senate.

"The big takeaway is that corporate money is playing a bigger role than ever in our elections, and it's only expanding," Rick Claypool, Public Citizen's research director and the report's author, said.

The report based its analysis on contributions to political action committees (PACs), which collect donations to support candidates and policy initiatives.

Among the largest contributors to pro-crypto political committees were venture capital firm Andreessen Horowitz, blockchain company Ripple Labs, Foris DAX, which is affiliated with Crypto.com, and crypto exchange Coinbase, the report said.

The report said that the industry's record political spending in 2024 helped pave the way for a Congress more receptive to digital asset legislation, with super PACs playing a central role. Public Citizen said Fairshake, the leading super PAC backing pro-crypto candidates, has raised $82 million during the current election cycle.

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