Crypto companies contributed $189 million to influence the 2026 U.S. midterm elections, accounting for 37% of the $517 million in corporate political spending this cycle, according to a report published Tuesday by advocacy organization Public Citizen. Ripple, Crypto.com, and Coinbase emerged as the sector's largest contributors, with Ripple spending $49.6 million, Crypto.com $38.6 million, and Coinbase $35.2 million. The report analyzed Federal Election Commission disclosures and OpenSecrets data, highlighting crypto's dominant role in corporate election financing compared to other industries including artificial intelligence and online betting.
Ripple Leads Crypto Donors with $49.6 Million Contribution
Ripple topped the crypto sector's political spending at $49.6 million during the 2026 midterm cycle, followed by Crypto.com at $38.6 million and Coinbase at $35.2 million. Entities associated with Gemini and its founders Tyler and Cameron Winklevoss contributed an additional $25.7 million, bringing spending by these four crypto groups to approximately $149 million. Among the top 10 corporate contributors across four industries analyzed, Ripple ranked second overall behind venture capital firm Andreessen Horowitz's $51.65 million contribution, while Crypto.com placed third and Coinbase fourth.
Fairshake and MAGA Inc. Receive Majority of Crypto Funds
Fairshake, a crypto-focused super PAC, received $82.6 million in crypto-related contributions, making it the largest beneficiary of the sector's political spending. MAGA Inc., the Trump-backing super PAC, received $56.2 million in crypto contributions. Blockchain.com and Ondo Finance also appeared among the largest corporate backers of MAGA Inc., contributing $5 million and $2.1 million respectively. Cantor Fitzgerald-backed Fellowship PAC, another crypto-focused political vehicle, received $10 million from the Wall Street firm, which serves as Tether's banking partner.
Crypto Outspends AI and Big Tech in 2026 Midterm Cycle
The report found that artificial intelligence and Big Tech companies contributed $60 million during the cycle, with $50.1 million directed to the AI-focused Leading the Future PAC. Online betting companies spent $45.6 million, including $43 million that flowed to Win for America PAC. Together, crypto, AI, Big Tech, and online betting firms accounted for $294 million, or 57%, of the $517 million in corporate spending reported for the 2026 midterms so far. Public Citizen raised concerns about the influence of corporate money in federal elections and stated the full amount of spending is unknown and "certainly higher" than the amounts reported in FEC disclosures.
Protect Progress Deploys $5.5 Million in Maryland Primary
Fairshake and its affiliated groups continued to deploy capital in congressional contests. Last week, Maryland state delegate Adrian Boafo won the Democratic primary with backing from Protect Progress, a Fairshake-affiliated super PAC. Federal Election Commission filings showed Protect Progress spent $5.5 million in the race. The advocacy group argued that sector-focused committees are designed to support candidates viewed as favorable to the commercial priorities of their backers.
FAQ
What did crypto companies contribute to the 2026 U.S. midterm elections?
Crypto companies contributed $189 million to influence the 2026 U.S. midterm elections, representing 37% of the $517 million in corporate political spending this cycle according to Public Citizen's report.
Which crypto companies were the largest political donors in the 2026 midterms?
Ripple led crypto political spending at $49.6 million, followed by Crypto.com at $38.6 million and Coinbase at $35.2 million. Entities associated with Gemini and the Winklevoss twins contributed an additional $25.7 million.
Which political action committees received the most crypto funding?
Fairshake, a crypto-focused super PAC, received $82.6 million in crypto-related contributions, while MAGA Inc., the Trump-backing super PAC, received $56.2 million in crypto contributions.
