In the aftermath of the 2024 elections, where approximately 270 lawmakers with favorable perspectives on digital assets secured their positions in the US Congress, the momentum for cryptocurrency advocacy is expected to continue into the upcoming 2026 midterms.
Organizations affiliated with the cryptocurrency industry, notably the Coinbase-connected Stand With Crypto group, alongside political action committees (PACs), are actively gearing up to support candidates who favor pro-crypto legislation. A significant portion of the lawmakers in the 119th Congress, which convened in January, have already indicated their support for policies that could favor the digital asset landscape.
During the previous year, Congress”s legislative activities appeared to align with this pro-crypto sentiment. In July, the US House of Representatives advanced three pivotal bills as part of a Republican initiative dubbed “Crypto Week.” Among these measures was the GENIUS Act, which pertains to stablecoin payment regulations and was promptly signed into law by former President Donald Trump. The other two pieces of legislation, which focus on the framework for digital asset markets and measures against Central Bank Digital Currencies (CBDCs), are pending Senate deliberation as of December.
As these important bills are considered, PACs like Fairshake, a prominent player in crypto-backed political financing for the 2024 elections, remain active in supporting candidates for the upcoming races in 2025. Their media expenditures included $1 million directed to Democratic candidate James Walkinshaw for a special election in Virginia, as well as $1.5 million allocated to two Republican candidates in special elections for congressional seats in Florida.
“We are keeping our foot on the gas,” stated Fairshake spokesperson Josh Vlasto in January. “With the midterms on the horizon, we are poised to continue backing candidates committed to advancing innovation, growing jobs, and enacting thoughtful, responsible regulation while opposing those who hinder voter support for crypto.”
The stakes for the cryptocurrency industry in the 2026 elections are substantial. In November, voters will decide on all 435 House seats and 33 Senate seats. Since January, Republicans have maintained a majority in Congress, which has allowed them to push their agenda, particularly regarding digital assets, under Trump”s leadership. The next presidential election will not occur until 2028, meaning that even if the Democrats regain control of one or both chambers in 2026, they may still face resistance from a Republican executive branch for two additional years, with Trump retaining veto power over Democrat-led initiatives.
Fairshake has reported a war chest of $141 million in anticipation of the midterm elections, bolstered by contributions from cryptocurrency firms, including Ripple Labs and Coinbase. Stand With Crypto has also circulated a questionnaire to candidates in both state and federal races, seeking to document their positions on digital assets for voters.
As of this publication, it is still too early to ascertain whether the cryptocurrency industry can once again sway voter sentiment and affect electoral outcomes. A notable upset in 2024 included Republican Bernie Moreno defeating Democratic incumbent Sherrod Brown for a Senate seat in Ohio, with Moreno receiving $40 million in backing from crypto-aligned lobbyists. However, some candidates supportive of the crypto sector did not fare well, such as John Deaton, who lost to Senator Elizabeth Warren by a margin of approximately 700,000 votes in Massachusetts.
