Crypto PACs Out-Spend Every Other Industry Combined — And 96% of Voters Still Don't Care 🗳️

Cryptocurrency companies have contributed $189 million to the 2026 US election cycle, accounting for roughly 37% of all reported corporate election spending and exceeding the combined totals from artificial intelligence, Big Tech and online betting companies, according to a report released Tuesday by consumer advocacy group Public Citizen. Total corporate spending on the 2026 midterms reached $517 million, a 12% increase over the $461 million corporations spent across the entire 2024 cycle, with more than four months remaining until the November election. Crypto's $189 million share exceeded AI and Big Tech firms at $60 million and online betting companies at $45.6 million. Together, these three sectors contributed $294 million, or 57% of all corporate spending so far. "In the 2026 midterm elections, corporate money is poised to play a bigger role than ever before in influencing how Americans vote," the report stated.

The crypto-aligned super PAC Fairshake received $82 million in corporate contributions, representing 60% of its total 2026 receipts of $135 million. Fairshake and its affiliates Defend American Jobs and Protect Progress, backed by Coinbase and Ripple, reported a $193 million war chest as of January. The MAGA Inc. Super PAC, largely backed by Crypto.com, drew a separate $56.2 million from crypto donors, with Crypto.com operator Foris Dax alone contributing $35 million, the largest single corporate donation to that committee across all industries. Ripple Labs and Coinbase steered $81.5 million toward Fairshake, while Crypto.com, Gemini and Blockchain.com directed funds to MAGA Inc. The Winklevoss twins funded a separate Republican-only vehicle, the Digital Freedom Fund, with $21.3 million, and the Fellowship PAC backed by Cantor Fitzgerald has formed since 2024.

"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." The combined PAC spending has already exceeded the $170 million companies contributed during the 2024 cycle. In Colorado's primaries held Tuesday, the You Can Push Back Super PAC backed by Ripple Labs co-founder Chris Larsen reportedly spent $1 million on media to support Democrat Manny Rutinel in the state's 8th congressional district, following a $3.3 million bet on Democrat Alex Bores in New York's 12th Congressional District, where Bores lost his primary last week to Micah Lasher.

The spending surge contrasts with public sentiment, as a Politico poll conducted with Public First found only 4% of Americans weigh a candidate's crypto position when voting, and just 18% want Congress to prioritize crypto rules. Another survey found 41% of respondents said special interest groups hold too much political influence. Cointelegraph reached out to a Fairshake spokesperson for comment on the report but did not receive an immediate response. Public Citizen noted that its totals likely undercount real spending, since dark-money groups and state-level contributions escape federal disclosure rules.