The most prominent US politician not running in this election cycle, Donald Trump, has entered the discussion as America prepares for next Congress elections, where cryptocurrency and artificial intelligence regulation are at stake.
As if Trump's return to the campaign trail weren't enough, it is reported that he also plans to join the Republican fight to maintain their Congressional majority, using funds from his MAGA Inc. super-PAC, which has amassed $400 million.
The future of the biggest financial backers of this election cycle hinges directly on the election outcomes. The cryptocurrency industry needs a Republican Congressional majority to pass the CLARITY Act, as well as favorable regulations from the SEC and CFTC.
On the other hand, AI stakeholders will aim to dispel the growing notion that they have become a liability for anyone trying to win elections.
Trump Prepares for Midterm Election Fight
Trump's first campaign stop ahead of the midterms will be a Friday rally in support of Senator Darlene Graham in Myrtle Beach. In terms of difficulty, this rally is practically a guaranteed win for any Republican candidate.
If the traditionally Republican-leaning state of South Carolina swings Republican, her Democratic opponent, Congressman Ralph Norman, will pull off a massive upset. Darlene is the sister of the late Senator Lindsey Graham.
A Republican source told Politico that Trump "is probably more able to tip the scales for Republicans than anyone else."
As for whether he will do it, Ayesha Hasnie of Fox News reported that a source confirmed to her that the US President "will start deploying funds from his massive personal super-PAC called 'MAGA Inc,' worth $400 million, to help vulnerable Republicans this November... as he returns to the campaign trail in South Carolina tonight."
Previously, CNN reported that Trump had approved the release of millions of dollars from his personal political committee to support vulnerable Republican candidates whose troubles have been exacerbated by soaring prices and the war in Iran.
Republicans Garner Cryptocurrency and AI Funding Support
According to data from Public Citizen, cited by Cryptopolitan, companies in cryptocurrency, artificial intelligence, and online betting have opened their wallets this cycle, driving record corporate spending of $517 million.
The bulk of the $4 million donated by Marc Andreessen and Ben Horowitz this election cycle went directly to Trump's MAGA Inc.
As reported by Cryptopolitan, AI-focused super-PACs raised $107 million and spent $55.5 million on federal elections, with Leading the Future, backed by Andreessen Horowitz and OpenAI's Greg Brockman, forming a network worth approximately $140 million. Conversely, the pro-regulation group Public First Action raised $80 million, including $40 million from Anthropic.
Ironically, AI investments might not be enough, as data center construction is reportedly hurting Senator John Hasted's standing in the Ohio Senate race. About 71% of Americans polled by Gallup this spring said they would prefer new data centers not to be built near their homes.
The effectiveness of Trump's ace card in 2026 will become clear when votes are tallied, when it's time to address issues related to the South Carolina rerun election, and when Republicans cannot refuse help in this cycle, even if it comes from controversial quarters.
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