Key Takeaways
- • Cryptocurrency-linked executives have spent more than $56 million on the 2025-2026 U.S. election cycle so far, according to the most recent Federal Election Commission filings reported by The Economic Times.
- • The crypto industry's overall political spending blitz this cycle totals about $175 million, per federal filings cited by Reuters, though much of it extends beyond digital-asset issues to technology, energy and tax policy.
- • Cameron and Tyler Winklevoss of Gemini Space Station have each contributed nearly $13 million this cycle, mostly to MAGA Inc., and are primary backers of the Digital Freedom Fund super PAC opposing Sherrod Brown in Ohio.
- • Chris Larsen of Ripple Labs has spent at least $14.6 million this cycle, mostly on Democratic-aligned and issue-focused groups, including a $6 million donation to Invest in Tomorrow Coalition.
- • Early voting has begun ahead of the November 3, 2026 polling day, with crypto donors' spending concentrated in key Senate and party-committee races.
Summary
Cryptocurrency-linked executives have spent more than $56 million during the current U.S. election cycle, according to the most recent Federal Election Commission filings cited by The Economic Times. Early voting for the 2026 midterm elections has started ahead of the November 3 polling day, and a number of crypto executives have each spent at least $500,000 on the 2025-2026 cycle. The totals include contributions to candidates, party committees and PACs, along with certain donations made through affiliated entities, but exclude contributions to "dark money" nonprofits, which are not required to disclose donors.
According to federal filings, the industry's broader political spending this cycle totals about $175 million, including contributions to crypto-friendly candidates and crypto super PACs, which can raise and spend unlimited sums. Reuters reported that a large share of this spending extends beyond digital assets to candidates and fundraising vehicles aligned with views on technology, innovation, energy policy, taxation and economic growth.
The largest individual donors include Cameron and Tyler Winklevoss, co-founders of Gemini Space Station, who have each contributed nearly $13 million this cycle, mostly 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 to oppose Democratic candidate Sherrod Brown, a crypto skeptic running for a U.S. Senate seat in Ohio. Chris Larsen, co-founder of Ripple Labs, has spent at least $14.6 million, mostly on Democratic-aligned and issue-focused groups, including $6 million to the Invest in Tomorrow Coalition super PAC, which backs renewable energy candidates, and $4.5 million to You Can Push Back PAC, which focuses on artificial intelligence safety.
Other donors include Coinbase co-founder and CEO Brian Armstrong, who has contributed roughly $1 million split evenly across both parties; Marc Andreessen of Andreessen Horowitz, who gave $3 million to MAGA Inc. and roughly $719,000 to mostly Republican-leaning committees; and Mike Novogratz, who has donated at least $1.9 million, mostly to Democratic-leaning groups. Chris Dixon of a16z crypto has donated roughly $867,000, Matt Huang of Paradigm has contributed at least $831,000 largely to Republican candidates, and Charles Cascarilla of Paxos has contributed roughly $642,000, mostly to Republican committees.
According to federal filings, the industry's broader political spending this cycle totals about $175 million, including contributions to crypto-friendly candidates and crypto super PACs, which can raise and spend unlimited sums. Reuters reported that a large share of this spending extends beyond digital assets to candidates and fundraising vehicles aligned with views on technology, innovation, energy policy, taxation and economic growth.
The largest individual donors include Cameron and Tyler Winklevoss, co-founders of Gemini Space Station, who have each contributed nearly $13 million this cycle, mostly 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 to oppose Democratic candidate Sherrod Brown, a crypto skeptic running for a U.S. Senate seat in Ohio. Chris Larsen, co-founder of Ripple Labs, has spent at least $14.6 million, mostly on Democratic-aligned and issue-focused groups, including $6 million to the Invest in Tomorrow Coalition super PAC, which backs renewable energy candidates, and $4.5 million to You Can Push Back PAC, which focuses on artificial intelligence safety.
Other donors include Coinbase co-founder and CEO Brian Armstrong, who has contributed roughly $1 million split evenly across both parties; Marc Andreessen of Andreessen Horowitz, who gave $3 million to MAGA Inc. and roughly $719,000 to mostly Republican-leaning committees; and Mike Novogratz, who has donated at least $1.9 million, mostly to Democratic-leaning groups. Chris Dixon of a16z crypto has donated roughly $867,000, Matt Huang of Paradigm has contributed at least $831,000 largely to Republican candidates, and Charles Cascarilla of Paxos has contributed roughly $642,000, mostly to Republican committees.
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