Crypto Dominates U.S. Election Donations With $189 Million
Crypto companies had already spent $189 million on the U.S. midterm elections, mostly through Fairshake and other super PACs. Public Citizen's report compares that lobbying power with AI, Big Tech, and online betting.
Key Takeaways
- Crypto companies had already spent $189 million in the 2026 U.S. midterm elections, nearly 37% of all reported corporate election spending.
- Fairshake received $82 million in corporate contributions; MAGA Inc. got $56.2 million from donors in the crypto sector.
- Public Citizen says the real spending is probably higher because of dark-money groups and incomplete state reporting.
Crypto companies have already poured $189 million (€166 million) into the U.S. 2026 midterm elections, accounting for nearly 37% of all reported corporate election spending. According to a Public Citizen report, that puts the sector well ahead of every other company-backed donor in federal races.
Crypto Is Leading the Pack
Corporate spending across the 2026 midterms has reached $517 million (€454 million), which is 12% more than the $461 million (€405 million) companies spent during the entire 2024 cycle. In other words, crypto is not only in first place, it is also outpacing the other major industries active in Washington by a wide margin.
Crypto spending also topped the combined total from AI and Big Tech, which gave $60 million (€52.7 million) together, as well as online betting companies, which contributed $45.6 million (€40 million). Those three sectors together have accounted for $294 million (€258 million), or 57% of all corporate spending so far.
Public Citizen argues that crypto has helped normalize a playbook other industries are now following: funneling massive sums through sector-specific super PACs to shape federal elections. The report says that approach was already visible in the last election cycle and has become even more embedded in 2026 political fundraising.
Where the Money Went
Fairshake, the crypto-linked super PAC, has taken in $82 million (€72 million) in corporate donations. That represents 60% of the committee's $135 million (€118 million) total fundraising so far in 2026.
Crypto money has also flowed into other political groups. MAGA Inc. received $56.2 million (€49.3 million) from donors in the sector, while Ripple Labs and Coinbase together contributed $81.5 million (€71.5 million) to Fairshake. Crypto.com, Gemini, and Blockchain.com also backed MAGA Inc., and Foris Dax, the company behind Crypto.com, gave $35 million (€30.7 million) to that committee on its own. The Winklevoss twins also donated $21.3 million (€18.7 million) to the Republican Digital Freedom Fund.
The report also says the total is likely understated, since dark-money groups and state-level donations are not fully captured under federal disclosure rules.
Why This Matters for Europe
For European crypto readers, the takeaway is how aggressively the U.S. sector is leaning into regulation and political access. That approach could matter for companies that also operate outside the United States, especially as debates over oversight, market structure, and lobbying continue to overlap. At the same time, the poll cited by Public Citizen found that only 4% of Americans consider a crypto position when voting, which makes the disconnect between spending and voter interest hard to miss.
