Key Takeaways
- • Crypto executives and venture capital leaders have spent more than $56 million in the 2025-2026 election cycle, according to a Reuters analysis of federal filings.
- • The broader crypto industry has poured $175 million into the 2025-2026 cycle through candidates and crypto-friendly super PACs, per federal filings.
- • Chris Larsen of Ripple Labs is the largest individual spender among the listed executives at at least $14.6 million, including $6 million to Invest in Tomorrow Coalition and $4.5 million to You Can Push Back PAC.
- • Winklevoss twins of Gemini have each contributed nearly $13 million, mostly to MAGA Inc., and Winklevoss Capital Fund gave $21.3 million to the Digital Freedom Fund opposing Sherrod Brown's Ohio Senate campaign.
- • Andreessen Horowitz co-founders Marc Andreessen and Ben Horowitz each gave $3 million to MAGA Inc., while Mike Novogratz of Galaxy Digital has given at least $1.9 million, mostly to Democratic-leaning groups.
Summary
Crypto executives and venture capital investors have spent more than $56 million during the 2025-2026 election cycle, backing candidates, super PACs and political groups aligned with their views on technology, taxation, energy and economic growth, according to a Reuters analysis of federal campaign finance disclosures. The figures cover individuals who spent at least $500,000 and are based on the most recent Federal Election Commission filings. They include contributions to candidates, party committees and PACs, as well as certain donations through affiliated entities, but exclude dark-money nonprofits, which are not required to disclose donors. Across the wider crypto industry, spending has reached $175 million in the cycle, according to federal filings.
Chris Larsen, co-founder and executive chairman of Ripple Labs, is the largest individual spender among the executives in the Reuters analysis, with at least $14.6 million. Much of his giving has gone to Democratic-aligned and issue-focused groups, including $6 million to the Invest in Tomorrow Coalition, which backs renewable energy candidates, and $4.5 million to You Can Push Back PAC, which focuses on artificial intelligence safety. Cameron and Tyler Winklevoss, co-founders of Gemini, have each contributed nearly $13 million, with most individual donations going to MAGA Inc., the main super PAC supporting President Donald Trump. The twins are also the primary backers of the Digital Freedom Fund, which has spent against Democratic Senate candidate Sherrod Brown in Ohio, a cryptocurrency sceptic. Winklevoss Capital Fund contributed $21.3 million to that group.
Venture capital figures are also significant donors. Marc Andreessen and Ben Horowitz of Andreessen Horowitz each gave $3 million to MAGA Inc., with Andreessen adding roughly $719,000 and Horowitz nearly $1 million to party committees and candidates, including almost $215,000 to the National Republican Senatorial Committee. Brian Armstrong, chief executive of Coinbase, has contributed approximately $1 million, spread relatively evenly between Republicans and Democrats. Mike Novogratz of Galaxy Digital has donated at least $1.9 million, mostly to Democratic-leaning groups, including about $780,000 to Next Generation Action PAC and $250,000 to The Bench PAC.
Other executives on the list include Chris Dixon of a16z crypto (about $867,000), Matt Huang of Paradigm (at least $831,000, mostly to Republicans), and Charles Cascarilla of Paxos (about $642,000, mostly to Republican candidates). According to the Reuters analysis, the contributions reflect priorities beyond digital asset policy, extending to artificial intelligence, energy, taxation and the broader economy as the 2026 midterms approach.
Chris Larsen, co-founder and executive chairman of Ripple Labs, is the largest individual spender among the executives in the Reuters analysis, with at least $14.6 million. Much of his giving has gone to Democratic-aligned and issue-focused groups, including $6 million to the Invest in Tomorrow Coalition, which backs renewable energy candidates, and $4.5 million to You Can Push Back PAC, which focuses on artificial intelligence safety. Cameron and Tyler Winklevoss, co-founders of Gemini, have each contributed nearly $13 million, with most individual donations going to MAGA Inc., the main super PAC supporting President Donald Trump. The twins are also the primary backers of the Digital Freedom Fund, which has spent against Democratic Senate candidate Sherrod Brown in Ohio, a cryptocurrency sceptic. Winklevoss Capital Fund contributed $21.3 million to that group.
Venture capital figures are also significant donors. Marc Andreessen and Ben Horowitz of Andreessen Horowitz each gave $3 million to MAGA Inc., with Andreessen adding roughly $719,000 and Horowitz nearly $1 million to party committees and candidates, including almost $215,000 to the National Republican Senatorial Committee. Brian Armstrong, chief executive of Coinbase, has contributed approximately $1 million, spread relatively evenly between Republicans and Democrats. Mike Novogratz of Galaxy Digital has donated at least $1.9 million, mostly to Democratic-leaning groups, including about $780,000 to Next Generation Action PAC and $250,000 to The Bench PAC.
Other executives on the list include Chris Dixon of a16z crypto (about $867,000), Matt Huang of Paradigm (at least $831,000, mostly to Republicans), and Charles Cascarilla of Paxos (about $642,000, mostly to Republican candidates). According to the Reuters analysis, the contributions reflect priorities beyond digital asset policy, extending to artificial intelligence, energy, taxation and the broader economy as the 2026 midterms approach.
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