US consumer advocacy group Public Citizen reported on Tuesday that the cryptocurrency industry contributed $189 million to the 2026 election cycle, in line with its 2024 game plan.
According to a report released Tuesday, the nonprofit said that around 37% of all corporate contributions in the 2026 US election cycle could be attributed to crypto companies, totaling around $189 million so far, with more than four months until the November election.
While the watchdog group said the crypto-aligned Fairshake political action committee (PAC) was responsible for spending more than $82 million so far, MAGA Inc.’s Super PAC, largely backed by Crypto.com, had spent more than $56 million.
“These super PACs prioritize the interests of their corporate backers over major political parties or any candidate,” Public Citizen said. “Following the crypto playbook, they are set up to participate in Democratic and Republican primaries and to support or attack candidates of either major party in the general election.”
Source: Public citizen
Fairshake and its subsidiaries Defend American Jobs and Protect Progress are backed by cryptocurrency firms Coinbase and Ripple and reported a war chest of $193 million in January. Entities aligned with industry interests have also been created since 2024, including the Cantor Fitzgerald-backed Fellowship PAC.
In total, combined PAC spending has already exceeded that of 2024, when companies contributed $170 million to elect what he considered “pro-crypto” candidates for Congress.
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Cointelegraph reached out to a Fairshake spokesperson for comment on the report but did not receive an immediate response.
Colorado primaries are full of crypto PAC money
Colorado voters head to the polls today for primaries for both Republican and Democratic candidates, with the state’s 8th Congressional District potentially influenced by crypto PAC spending.
The You Can Push Back Super PAC backed by Ripple Labs co-founder Chris Larsen reportedly spent $1 million in media to support Democrat Manny Rutinel. The committee’s last big bet — $3.3 million — was on Democrat Alex Bores, in New York’s 12th Congressional District. He lost his primary last week to Micah Lasher, who criticized Larsen’s involvement in the race.
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