Crypto Industry’s War Chest Swells to $116 Million Ahead of 2026 Midterms
The crypto industry’s political influence is reaching new heights, with Fairshake, a super PAC backed by crypto giants, announcing a staggering $116 million in cash on hand. This war chest is aimed squarely at the 2026 midterm election cycle, cementing Fairshake’s status as one of the most powerful political forces in the country.
Major Backers Double Down on Pro-Crypto Candidates
Industry heavyweights like Coinbase, a16z, Jump Crypto, Uniswap Labs, and Ripple Labs have reaffirmed their commitment to electing candidates who support innovation, job growth, and responsible regulation. Robert Leshner of Superstate has also contributed to the PAC, according to reports.
Crypto’s Rise to Power in Washington
Once dismissed as a speculative frenzy, crypto now wields significant influence in Washington. Industry-backed officials are securing key positions in the president’s cabinet and federal agencies. Lawmakers aligned with digital assets are launching probes into regulators accused of stifling innovation. With a Republican-controlled Congress, the industry is shifting from defense to offense, driving the agenda on issues like SEC enforcement actions, banking restrictions, and market structure legislation.
Top Contributors Fuel Fairshake’s War Chest
Coinbase, the largest U.S. crypto exchange, has contributed over $75 million to Fairshake and its affiliated PACs in 2024, with a further $25 million pledged for the 2026 midterms. Silicon Valley venture fund Andreessen Horowitz has contributed $70 million across multiple cycles, while Ripple Labs has given around $50 million to Fairshake.
The Impact of Crypto’s Political Muscle
The industry’s influence extends far beyond elections. With billions in market cap and tens of millions in lobbying power, crypto has positioned itself alongside Wall Street, Big Tech, and the defense sector as one of the most formidable forces in Washington. The strategy is clear: secure allies, neutralize threats, and lock in legislative wins that will define the industry’s future.
A New Era of Crypto Political Influence
The 2024 election marked a turning point for the industry, which saw it as an opportunity to flip the script and establish legitimacy. Crypto-related PACs and affiliated groups pulled in over $245 million for the 2024 election cycle, with nearly half of all corporate dollars coming from the crypto industry. The Stand With Crypto Alliance, launched by Coinbase, developed a grading system for House and Senate races, directing funds to pivotal battlegrounds and securing unprecedented sway over the legislative agenda.
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