Crypto Companies Spent $189 Million in 2026
BITmarkets Team
Jun 30, 2026
The nonprofit said crypto firms account for roughly 37% of all corporate political contributions made so far during the current election cycle. With more than four months remaining before the November vote, the sector has already emerged as one of the largest sources of campaign funding.
Crypto PACs continue expanding their political influence
Public Citizen identified the crypto-backed political action committee (PAC) Fairshake as the biggest spender, contributing more than $82 million during the current election cycle. Meanwhile, the MAGA Inc. Super PAC, which receives significant backing from Crypto.com, has spent more than $56 million.
According to the report: “These super PACs prioritize the interests of their business backers over either major political party or any candidate.” It added: “Following the crypto playbook, they are set up to engage in both Democratic and Republican primaries and to support or attack candidates of either major party in the general election.”
Fairshake and its affiliated groups, Defend American Jobs and Protect Progress, receive support from major cryptocurrency companies, including Coinbase and Ripple. As of January, the organizations reportedly controlled a combined war chest of $193 million.
New industry-backed political organizations have also emerged since the 2024 elections, including the Fellowship PAC, which is supported by Cantor Fitzgerald. Collectively, crypto-related PAC spending has already surpassed the $170 million invested during the 2024 election cycle, when the industry focused on helping elect candidates viewed as supportive of digital assets.
Colorado primaries become latest crypto battleground
Political spending from the crypto industry is also playing a role in key congressional races. In Colorado, where voters headed to the polls for primary elections, the state's 8th congressional district has attracted significant attention from crypto-backed PACs.
The You Can Push Back Super PAC, supported by Ripple Labs co-founder Chris Larsen, reportedly invested $1 million in media campaigns backing Democratic candidate Manny Rutinel. The committee's previous high-profile investment came in New York's 12th Congressional District, where it spent $3.3 million supporting Democratic candidate Alex Bores. However, Bores ultimately lost the primary to Micah Lasher, who had openly criticized Larsen's involvement in the race.
Crypto industry doubles down ahead of November election
With months still remaining before the general election, the latest figures highlight the cryptocurrency industry's continued commitment to influencing US politics through well-funded PACs and independent campaign spending. Following the approach that gained traction in 2024, crypto companies appear determined to support candidates across party lines who favor digital asset innovation and regulatory reforms, ensuring the sector remains a major force in the 2026 election cycle.
Sources:
https://cointelegraph.com/news/crypto-companies-spent-2026-us-election-cycle-public-citizen
