According to BlockBeats, on November 24, Kristin Smith, CEO of the cryptocurrency lobbying group Blockchain Association, stated: 'This U.S. election shows that the cryptocurrency industry, as well as the community, has significant influence.'
Based on data compiled by cryptocurrency researcher Molly White, the political action committees supported by the crypto industry spent about $133 million in the 2024 elections and will next focus on the 2026 midterm elections, during which 33 of the 100 Senate seats and all 435 House seats will be contested.
Coinbase has announced a commitment to provide $25 million to the political action committee Fairshake, which supports cryptocurrency candidates, for the campaign two years from now.
Moreover, one of Silicon Valley's largest venture capitalists, Andreessen Horowitz, has committed more than $23 million to Fairshake and its affiliated PAC for the midterm elections. According to CNBC in early November, Fairshake has raised a total of $78 million for the 2026 elections.
It is evident that political strategists in the cryptocurrency space are planning in years rather than months. Smith stated that Fairshake will remain active in the 2026 campaign, saying, 'This is not a fleeting thing.'
When asked about accepting an interview with a16z regarding its political plans, a16z's spokesperson repeatedly referenced a blog post written by partner Chris Dixon, which mentioned: 'While we take a long-term view of our policy strategy, we believe now is the time for Congress to act.' (DL News)