Crypto’s super PACs spent more than $170 million in the 2026 election, and most of their candidates won. Yet when the votes from November 3 were counted, Democrats had taken both the House and the Senate, and two of the industry’s best-known critics were lined up to control the committees that matter most for its future. That’s the paradox at the heart of the crypto midterm results.

If you don’t follow Washington, here’s the short version. Congress writes the laws that decide who regulates crypto and how, while agencies like the SEC (Securities and Exchange Commission) and CFTC (Commodity Futures Trading Commission) write the detailed rules. The election changed who controls Congress from January, but not who runs the agencies….