The CEO of the Blockchain Association, Kristin Smith, claims that cryptocurrency has a significant influence on the U.S. election. According to data compiled by cryptocurrency researcher Molly White, crypto industry-backed political action committees (PACs) spent around $133 million in the 2024 elections.
They are now focusing on the 2026 midterm elections, where 33 Senate seats and all 435 House seats will be up for grabs. Coinbase has committed to providing $25 million to Fairshake, a PAC that supports cryptocurrency candidates, for the upcoming election. Furthermore, Andreessen Horowitz, one of Silicon Valley’s largest venture capitalists, has pledged over $23 million to Fairshake and its affiliated PAC for the 2026 midterm elections.
Fairshake has raised a total of $78 million for the 2026 election, as reported by CNBC in early November. Cryptocurrency political strategists are planning for the long-term, with Fairshake set to remain active during the 2026 campaign.
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