Foreign Media: Cryptocurrency Industry Actively Involved in US Midterm Elections with Strong Financial Backing

BlockBeats News, February 16th, according to The Hill, the cryptocurrency industry, after achieving several key victories in 2024 and accumulating a huge amount of funds, is increasing its spending efforts to prepare for the upcoming U.S. midterm elections.

The industry's primary super PAC network, Fairshake, had over $193 million in cash on hand in early 2026 and has announced several targets for this election cycle: including supporting Congressman Barry Moore (Republican-Alabama) in the Alabama Senate race and pushing for the removal of Congressman Al Green (Democrat-Texas) in the House election.

After heavily investing in the last U.S. election and claiming victory in at least two highly watched races, this has brought some early results for the industry in Congress and elevated the position of the crypto industry in Washington.

The crypto industry's impact was most significant in 2024 when it poured in tens of millions of dollars, intervening in multiple primaries and fiercely contested elections. According to the 2024 campaign finance filings, Fairshake's super PAC network, which includes three affiliated groups, spent nearly $180 million in the last cycle.