Crypto groups spend $176 million on 2026 US midterms to support digital asset legislation.

A Reuters investigation dated October 27 shows that the U.S. crypto industry has spent about $176 million on more than 100 congressional races ahead of the November 3 midterm elections. Fairshake and its affiliated PACs accounted for $150.8 million of that total through October 20, while other crypto‑backed groups contributed roughly $25 million.

Fairshake, largely funded by Coinbase, Ripple and Andreessen Horowitz, supported 58 primary and special‑election candidates, with 53 winners. The network is now focusing resources on competitive House contests, including Ohio’s Senate race, and has allocated $6 million to 32 House incumbents who backed the CLARITY Act.

The industry’s long‑term goal is to pass the Digital Asset Market Clarity Act, which would delineate SEC and CFTC responsibilities. While Fairshake backs candidates from both parties in the House, its Senate spending has leaned toward Republicans after Democratic opposition to the bill.

Summary rewritten by AI from the original article by crypto.news.