Republicans received the overwhelming majority of contributions and spending support from the crypto industry. Of the $471 million, $302 million (65%) went to or was spent on Republican-aligned candidates, while $96 million (21%) to Democratic-aligned candidates
WHO GOT THE MONEY?
Non-crypto PACs and committees received more than $250 million in contributions from the crypto industry.
Crypto PACs: $163 Million in Spending
The rest of the crypto industry’s contributions mostly went to the crypto PAC Fairshake, which then transferred most of its funds to its affiliate PACs, Protect Progress and Defend American Jobs.
These crypto-focused PACs recorded approximately $163 million in spending. 82% of the spending supported Republicans or opposed Democrats, versus 18% supporting Democrats or opposing Republicans.
Where Crypto PACs Spent Their Money
Overall, Candidates supported by crypto PAC spending were very successful. Of the 90 candidates that received support from crypto super PACs, 73 of them won their races and were elected to Congress, while only 14 lost their races (with three races still to be determined). A winning percentage above 80%.
But the financial commitments were devastating. More than half of the $163 million that was spent went to losing candidates ($88 million). In the Ohio senate race alone, $64 million (or 39% of crypto PAC spending) went to a losing effort trying to defeat anti-crypto candidate Sherrod Brown.
Crypto PACs fared better in Nebraska, Alabama, and Kentucky, where $34 million was spent on the winning candidates.
WHO ARE THE CRYPTO INDUSTRY DONORS
The top five entities account for $288 million, or about 61% of the full donor tally.
The totals encompass both crypto-native and crypto-affiliated businesses and individuals.
Crypto-native and affiliated businesses and other entities accounted for approximately $346 million, and individuals in the crypto space account for 125.4 million.
Contributions By Crypto-Native and Crypto-Affiliated
Donors by Political Party
Largest Donors to Republicans
Largest Donors to Democrats
Methodology: Figures are from James Delmore’s compilation of political-contribution and PAC-spending records for the 2025–26 cycle, reported here as of November 6, 2026. “Crypto-native” denotes businesses primarily engaged in digital assets and associated individuals; “crypto-affiliated” includes diversified firms, investors and individuals with substantial crypto ties. Donations by an affiliated donor are not necessarily donations made to advance crypto policy.
The $471 million is a contribution tally. PAC expenditures are presented separately and must not be added to it. PAC fundraising figures can include transfers between committees. Race totals are rounded, and election results remain subject to certification.