Crypto election spending hits $176M as Fairshake targets US midterms

The U.S. crypto industry has spent approximately $176 million across more than 100 congressional races ahead of the November 3 midterm elections, seeking to build political support for digital asset legislation that could survive beyond President Donald Trump’s administration. Summary Crypto political groups have spent roughly $176 million across more than 100 midterm races. Fairshake and affiliated committees account for approximately $150.8 million of the spending. Industry groups are backing candidates expected to support long-term cryptocurrency legislation. Ohio’s Senate contest has attracted more than $68 million in crypto-related election spending. According to an October 27 Reuters investigation, campaign finance records show that Fairshake and its affiliated political action committees spent $150.8 million through October 20, while other crypto-backed groups contributed roughly $25 million in election spending. The campaign targets candidates from both major parties, with industry strategists describing a long-term effort to establish relationships with lawmakers who could influence future cryptocurrency regulation. Fairshake reported that 53 of the 58 candidates it suppor...