 ▲ United States, Bitcoin (BTC) |
The cryptocurrency industry, which wielded significant influence in the 2024 presidential election, has prepared to shake up the landscape of the 2026 midterm elections with more than $190 million in capital.
According to cryptocurrency media outlet Bitcoinist on February 17 (local time), Fairshake, a major political action committee (PAC) representing the crypto industry, entered the 2026 election cycle with $193 million in cash on hand. The industry is mobilizing unprecedented financial resources to solidify the current political landscape dominated by Donald Trump and the Republican Party and to create a legislative environment favorable to the domestic crypto sector.
Fairshake has already decided to support Republican Representative Barry Moore, who is running for the U.S. Senate in Alabama, and is campaigning to unseat Democratic Representative Al Green in Texas, who has opposed crypto regulations. Defend American Jobs, an affiliated group of Fairshake, plans to invest $5 million in Moore’s campaign. Another affiliate, Protect Progress, is projecting political muscle by investing $1.5 million to support a primary challenger against Green.
The key reason behind the industry’s massive spending is to secure full passage of the U.S. cryptocurrency market structure bill, known as CLARITY. The bill, which has already passed the House of Representatives, is currently pending in the Senate and is expected to provide clear operational guidelines for crypto companies. While the industry previously succeeded in advancing the GENIUS Act regulating stablecoins, it believes that passage of the more comprehensive market structure legislation is crucial to the future growth of the sector.
Some in political circles have raised concerns that the influx of massive funds from crypto groups into federal elections could undermine democracy through unregulated money. However, crypto advocates counter that such activities are legitimate political participation aimed at establishing clear rules to support responsible innovation, not a means of evading regulation. During the 2024 election cycle, Fairshake and its affiliated organizations spent approximately $180 million, playing a decisive role in strengthening pro-crypto sentiment in Congress.
The cryptocurrency industry has now firmly established itself as a key interest group that cannot be ignored in the U.S. policymaking process. Spending is expected to accelerate further in the run-up to the midterm elections, potentially serving as a driving force in reshaping Washington’s perspective on digital assets. Global investors are closely watching to see what legislative outcomes the crypto sector’s financial and technological push will yield after the 2026 elections.
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