After emerging as a major political player in the 2024 elections, the cryptocurrency industry is once again preparing to flex its financial muscle—this time ahead of the 2026 midterms.
Two years ago, crypto-focused super political action committees helped shape key races as President Donald Trump and Republican majorities in the House and Congress secured victories.
Now, with digital asset prices under pressure and Congress still debating the landmark CLARITY Act, the industry is ramping up spending in an effort to protect and expand its influence in Washington.
Fairshake Enters 2026 With $193M
According to reporting by The Hill, Fairshake—the leading super Political Action Committee (PAC) network aligned with the crypto sector—entered 2026 with more than $193 million in cash on hand, already identifying priority races for the current cycle.
It is reportedly supporting Republican Representative Barry Moore in Alabama’s Senate race and working to unseat Democratic Representative Al Green in the House.
Leonard Kostovetsky, an associate professor at Baruch College and a vocal skeptic of crypto, said the strategy resembles what the industry deployed two years ago. “It’s going to be similar to the previous cycle where they will kind of flex their muscles to show the political power of the crypto industry,” he said.
The industry’s political footprint expanded significantly during the 2024 election cycle, when crypto-aligned groups poured millions into competitive primaries and closely watched races. Federal filings show that Fairshake and its three affiliated organizations spent nearly $180 million during that cycle alone.
Beyond elections, the industry has secured at least one significant legislative victory. Lawmakers passed the GENIUS Act, which established a regulatory framework for dollar-backed stablecoins.
Yet the more comprehensive market structure legislation—widely viewed as the industry’s top priority—remains unfinished. The proposed bill would provide long-sought clarity for digital asset businesses. Although the House passed its version, the measure has stalled in the Senate.
Crypto Groups Push For Regulatory Clarity
As Congress debates this broader framework, crypto-affiliated political groups have wasted no time engaging in midterm contests. Defend American Jobs, one of Fairshake’s partner PACs, announced this week that it would spend $5 million to support Moore’s Senate campaign in Alabama.
Meanwhile, another affiliated PAC, Protect Progress, revealed plans to invest $1.5 million to oppose Green in the Democratic primary for Texas’s newly redrawn 18th Congressional District.
The group cited Green’s voting history on crypto-related measures, arguing that he has sought to “stop American innovation in its tracks.” Green voted against the GENIUS Act and the House’s CLARITY Act.
Ohio-based Democratic strategist Jeff Rusnak questioned whether crypto groups should be permitted to deploy what he described as essentially “unregulated money” in federal elections.
Yet, industry advocates counter that their political engagement is aimed at fostering responsible regulation rather than avoiding it. A source familiar with the Fairshake network argued that election spending has helped move policymakers toward creating clearer rules.
Featured image from OpenArt, chart from TradingView.com
