As the 2026 midterm elections approach, the political battle in the US is intensifying. With the Donald Trump administration's ratings declining due to issues regarding the economy, war with Iran, and immigration, Democrats hold their largest lead in 20 years. However, Democrats must contend not only with political rivals but also with massive financial flows directed by the crypto industry. This is reported by Cointelegraph.com reports .
According to the Follow the Crypto project, crypto companies and their executives have allocated over $500 million to influence the outcome of the 2026 elections. So far, spending by political action committees (PACs) has exceeded $245 million. In particular, Super PAC structures have donated twice as much to Republicans as to Democrats, directing $23.4 million to the former.
The disparity becomes even more apparent when analyzing personal donations from crypto industry representatives and company executives. Donors in this category have funded Republicans 11 times more than Democrats. This gap is explained by the Republicans' support for easing financial market regulations and deregulation.
While Democrats are not entirely opposed to Bitcoin and other crypto-assets at the party level, they remain skeptical of the sector. The fact that PAC structures have spent $2 million more on campaigns against Democrats than on supporting them highlights the political sentiment in the industry.
In three of the last four special elections for the House of Representatives, Republicans supported by the crypto lobby won. This trend indicates the growing influence of the crypto industry on the US economy and politics.
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