 ▲ Bitcoin (BTC), Ethereum (ETH), U.S. Midterm Elections / ChatGPT-generated image |
The cryptocurrency industry has launched an all-out offensive aimed at the 2026 U.S. midterm elections, pouring in a record amount of political funding in an effort to reshape Washington’s power structure and seize legislative leadership.
Guy Turner, co-host of the cryptocurrency-focused YouTube channel Coin Bureau, said in a video released on March 3 (local time) that after helping Donald Trump win the 2024 U.S. presidential election, the crypto industry is set to emerge as the most powerful political force in next year’s midterms. Turner explained that the industry’s strategic goal is to propel a large number of pro-crypto politicians into Congress through the super PAC Fairshake.
Fairshake has already secured more than $193 million in war funds for the 2026 election cycle, with major contributions from Ripple, the issuer of XRP, and Coinbase. Across the industry, approximately $228 million in political funding has been raised, underscoring crypto firms’ determination to exert tangible influence over politics. Ripple and Coinbase have each donated more than $50 million, positioning themselves as key pillars representing the industry’s voice.
Although President Trump was previously skeptical of Bitcoin (BTC), he now presents himself as a “crypto president,” expressing his intention to mine and issue digital assets within the United States. According to data from Stand With Crypto, there are currently 458 pro-crypto lawmakers in Congress, contributing to pronounced political polarization between Republicans and Democrats. The industry believes that crypto policy will become a decisive factor for voters beyond partisan lines.
The industry’s top legislative priority is the passage of the CLARITY Act, which seeks to eliminate market uncertainty by clearly delineating regulatory authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). However, banking leaders, including Bank of America CEO Brian Moynihan, strongly oppose the move, arguing that if stablecoins offer interest, massive deposit outflows could occur, potentially destabilizing the financial system.
As the 2026 midterm elections approach and political backing expands, expectations for regulatory clarity are likely to drive a market rebound. The industry is focusing on establishing a legal foundation that will position digital assets at the core of the mainstream financial system through a long-term legislative strategy that transcends party lines. Political shifts and legislative achievements are ultimately expected to lead to a revaluation of digital assets overall, including Bitcoin and XRP.
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