Crypto PACs Drop $189M Into 2026 Race — And Counting, Coin Counters Sigh 🧮

The cryptocurrency industry has contributed approximately $189 million to the 2026 U.S. election cycle, accounting for roughly 37% of all corporate contributions with more than four months remaining until November, according to a Tuesday report from consumer advocacy group Public Citizen. The watchdog said the figure follows the industry's 2024 playbook, with spending already surpassing the $170 million contributed during the last cycle that helped elect what Public Citizen described as "pro-crypto" candidates to Congress.

The Fairshake PAC, backed by Coinbase and Ripple, was responsible for more than $82 million of the spending so far, while the MAGA Inc. Super PAC, largely funded by Crypto.com, spent more than $56 million. Fairshake and its affiliates Defend American Jobs and Protect Progress reported a combined $193 million war chest as of January. "These super PACs prioritize the interests of their business backers over either major political party or any candidate," Public Citizen said. "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."

New crypto-aligned PACs have also emerged since 2024, including the Fellowship PAC backed by Cantor Fitzgerald. Cointelegraph reached out to a Fairshake spokesperson for comment on the report but did not receive an immediate response. Senate leaders are separately pushing for July passage of the CLARITY Act, a market structure bill watched closely by the industry.

The spending has already shaped down-ballot races, including Tuesday's Colorado primaries. The You Can Push Back Super PAC, backed by Ripple Labs co-founder Chris Larsen, reportedly spent $1 million on media supporting Democrat Manny Rutinel in the state's 8th congressional district. The committee's previous $3.3 million bet on Democrat Alex Bores in New York's 12th Congressional District ended in defeat last week, when Bores lost his primary to Micah Lasher, who had criticized Larsen's involvement in the race.