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Crypto Industry’s Political Spending Hits $176 Million Ahead of Midterms

Crypto Industry’s Political Spending Hits $176 Million Ahead of Midterms

The crypto industry is pouring millions into this year’s midterm elections to secure more allies in Congress.

Reuters reported Tuesday that the industry has spent roughly $176 million across more than 100 congressional races this election cycle.

The spending spree is part of a broader strategy to maintain the industry’s political influence after crypto-friendly President Donald Trump leaves office in 2029, according to the report. It also comes as Democrats have a strong chance of retaking the House in November, potentially bringing greater regulatory scrutiny to the industry.

While the industry is backing candidates on both sides of the aisle, Republicans have generally been more supportive of crypto—especially…

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