Bitcoin Magazine Crypto Midterm Election Spending Reaches $176 Million as Industry Builds for the Next Congress
The crypto industry has spent about $176 million across more than 100 midterm races this cycle, according to a Reuters review of campaign spending. The money is part of a plan to build a bipartisan coalition in Congress that can protect the sector after President Donald Trump leaves office.
Fairshake, the industry’s largest super PAC, leads the effort. The group spent $196 million in the 2024 cycle and is directing strategy again. Through October 20, Fairshake and its affiliate PACs had spent about $150.8 million this year, while other crypto groups spent around $25 million. Fairshake said 53 of the 58 candidates it backed in primaries or special elections won, and those candidates will be on the November 3 ballot, per Reuters.
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