Following the 2024 elections, in which an estimated 270 lawmakers with favorable views on digital assets won seats in the US Congress, many cryptocurrency-affiliated organizations and political action committees show no signs of slowing their progress in the next significant election, the 2026 midterms.
Likely boosted by advocacy work from organizations — such as the Coinbase-affiliated Stand With Crypto group and whose campaigns were supported by media buys from political action committees (PACs) — a majority of lawmakers in the 119th session of the US Congress took office in January having already expressed views signaling that they would support pro-crypto legislation and policies.
In the last year, some of Congress’s work supported that theory. The US House of Representatives passed three significant bills in July as part of the Republicans’ “Crypto Week” initiative.
One of these bills, the GENIUS Act stablecoin payments legislation, was signed into law by US President Donald Trump almost immediately. The other two bills, focused on digital asset market structure and anti-Central Bank Digital Currency (CBDC) policies, await consideration in the Senate as of December.
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Amid consideration of these bills, PACs like Fairshake, one of the significant crypto-backed spenders in the 2024 elections, continued to support candidates in 2025 races.
Media buys by the PAC and its affiliates included $1 million for Democratic candidate James Walkinshaw in a special election for Virginia’s 11th congressional district seat and $1.5 million for two Republican candidates in two special elections for Florida congressional seats.
“We are keeping our foot on the gas,” Fairshake spokesperson Josh Vlasto told Cointelegraph 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 and opposing those who play politics and stand in the way with the voters’ support for crypto.”
What’s at stake for the crypto industry in 2026?
In November 2026, votes will determine which candidates will fill all 435 seats in the House, as well as 33 seats in the Senate. Republicans have held a majority in Congress since January, essentially allowing them to enact their agenda at the direction of Trump on matters such as digital assets.
The presidency will not come up for election until 2028, meaning that even if Democrats secure a majority in one or both chambers of Congress in 2026, they could still face opposition from a Republican-controlled White House for two years. Trump would still have the ability to veto some Democrat-led legislation.
Fairshake reported holding $141 million ahead of the midterm elections, backed by contributions from cryptocurrency companies including Ripple Labs and Coinbase. Stand With Crypto said in November that it had shared a questionnaire with candidates in state and federal races to gather their views on digital assets on the record for potential voters.
As of the time of publication, however, it’s still too early to determine whether the industry could once again sway voters’ opinions and influence elections.
One of the biggest upsets in 2024 included Republican Bernie Moreno’s victory over Democratic incumbent Sherrod Brown for the US Senate in Ohio. Moreno received $40 million from crypto-backed lobbyists.
However, some crypto-aligned candidates lost their elections or primaries in 2024. John Deaton, a lawyer who advocated for XRP (XRP) holders in court, lost to Senator Elizabeth Warren by about 700,000 votes in Massachusetts.
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