Crypto PACs Highlight Growing Role in US Politics with $263M Election Fund
TL;DR:
Crypto PACs have raised $263 million for the 2026 midterms, surpassing oil and gas sector spending.
Fairshake PAC, backed by major crypto firms, has been instrumental in electing pro-crypto lawmakers.
President Trump’s pardon of Binance’s Zhao highlights the industry’s growing political influence.
The cryptocurrency industry is consolidating its political influence by amassing a record $263 million in campaign funds ahead of the 2026 U.S. midterm elections. This represents nearly double the spending recorded in 2024 and surpasses the total expenditures of the oil and gas sector, signaling the growing strategic importance of crypto in Washington. Analysts note that crypto PACs are increasingly focusing on states with pivotal races, using targeted donations to support candidates aligned with digital asset interests.
Major PACs Mobilize Funds to Support Pro-Crypto Candidates
Leading political action committees are directing resources toward pro-crypto lawmakers, demonstrating a coordinated approach to shaping federal policy. Fairshake, Digital Freedom Fund, and Fellowship PACs are at the forefront, with Fairshake raising $141 million thanks to backing from Coinbase, Ripple, and Andreessen Horowitz. The infusion of funds has already produced results, including key wins in Ohio, where $40 million in support helped secure victories for crypto-friendly candidates over established incumbents.
The influence of the crypto industry on federal policy is becoming increasingly visible, exemplified by President Trump’s controversial pardon of Binance co-founder Changpeng Zhao, who served time for anti-money laundering violations. This move highlights the growing political leverage of digital asset stakeholders, and points to an environment where lobbying and campaign support can tangibly affect federal decisions.
PAC activity also signals potential legislative shifts, with efforts underway to transfer regulatory authority from the SEC to the CFTC. Industry leaders hope that targeted engagement with lawmakers will advance a market structure bill designed to establish a more crypto-friendly legal framework. Analysts suggest that the 2026 election cycle could set the stage for long-term policy trends, ensuring digital assets remain central to financial innovation and oversight discussions in the United States.
Filed under: News - @ October 28, 2025 4:28 pm