Crypto industry spends $176 million in midterms to build bipartisan coalition ahead of Trump's exit

The crypto industry has spent approximately $176 million across more than 100 midterm races this cycle to build a bipartisan coalition in Congress, according to a Reuters review. Fairshake, the industry's largest super PAC, leads the effort, having spent about $150.8 million this year alone. Other crypto groups contributed around $25 million. Fairshake-backed candidates enjoyed a 91 percent primary and special election win rate, with 53 of 58 backed candidates advancing to the November ballot. The spending surge reflects the industry's strategy to secure political influence as SEC enforcement intensifies under the Biden administration.