BlockBeats news: On February 16, according to The Hill, the cryptocurrency industry, having achieved several key victories and accumulated substantial funds in 2024, is increasing its spending in preparation for the upcoming U.S. midterm elections.
The industry’s leading super PAC network, Fairshake, had over $193 million in cash on hand as of early 2026 and has announced several targets for this election cycle, including supporting Representative Barry Moore (R-AL) in his Senate race and pushing for the removal of Representative Al Green (D-TX) in House elections.
After heavily investing in the last U.S. election and claiming victories in at least two high-profile races, the industry has secured some early wins in Congress and significantly elevated its standing in Washington.
The crypto industry had its most significant impact in 2024, when it invested tens of millions of dollars in primary elections and competitive races. According to 2024 campaign finance filings, the Fairshake super PAC network, comprising three affiliated groups, spent nearly $180 million in the last cycle.