Crypto companies have spent $189 million so far in the 2026 U.S. election cycle, according to a new report from consumer advocacy group Public Citizen.
The group estimates that cryptocurrency companies have raised 37 percent of the total amount of corporations reporting contributions in this year’s federal races.
The report indicates that crypto is still the biggest corporate political spender in the cycle. Public Citizen’s findings are based on OpenSecrets data from 2010-2024 and 2026 Federal Election Commission records of corporate contributions of $5,000 or more to hybrid PACs and super PACs.
Public Citizen noted that the full amount may be higher because some political spending is not reported to the FEC. The group also said dark money groups can allow corporate donors to hide funding sources from public view.
The latest figure puts crypto ahead of its 2024 cycle spending. Crypto companies spent more than $170 million in the previous cycle, when the industry backed candidates seen as supportive of digital asset policy changes.
Fairshake and MAGA Inc. draw major crypto backing
Public Citizen said Fairshake and MAGA Inc. were the biggest recipients of crypto-linked corporate spending so far. Fairshake received $82.6 million, while MAGA Inc. received $56.2 million from crypto businesses, according to the report.
Fairshake has emerged as a leading super PAC in U.S. politics that is crypto aligned. It is affiliated with Defend American Jobs and Protect Progress. Large cryptocurrency companies like Coinbase and Ripple have been supportive of the PAC.
Ripple Labs’ total contribution to the report is $49.6 million, of which $48.5 million was directed to the Fairshake and its affiliates. Coinbase gave $35.2 million, $33 million of which went to Fairshake. Foris DAX, the affiliate of Crypto.com, gave $38.6 million, of which $35 million was transferred to MAGA Inc.
Public Citizen also listed Winklevoss Capital Fund LLC and Gemini Trust Company among the top crypto-linked contributors. The report said those entities gave $25.7 million, including $21.3 million to the Digital Freedom Fund and $4.4 million to MAGA Inc.
“These super PACs prioritize the interests of their business backers over either major political party or any candidate,” Public Citizen noted.
AI, big tech and betting groups follow the same path
Crypto is not the only sector spending heavily in the 2026 cycle. Public Citizen said crypto, AI, big tech, and online betting companies have collectively spent $294 million to influence federal elections so far. That equals 57 percent of the $517 million in reported corporate spending for the cycle.
The report said Big Tech and AI companies have spent $60 million, while online betting companies have spent $45.6 million. Leading the Future received $50.1 million from Big Tech and AI firms, while Win for America received $43 million from online betting companies.
These sectors are using a model first pushed by crypto companies in 2024. The strategy uses large super PAC donations to support or oppose candidates in both Democratic and Republican races, based on policy interests rather than party lines.
The same trend has appeared in individual races. The Guardian reported that Colorado Democrat Manny Rutinel received support from groups funded by former Google CEO Eric Schmidt and crypto billionaire Chris Larsen. Larsen’s You Can Push Back PAC contributed nearly $1 million to Rutinel’s campaign, according to the report.
Crypto policy fight remains central
The funds are part of the crypto sector’s bid for more clarity from the federal government. Coinbase, Kraken and other crypto companies are seeking that developer protections be included in the final version of the CLARITY Act before U.S. lawmakers.
Moreover, the CLARITY Act would set rules for digital asset classification, staking, tokenization, stablecoin yields, self-custody, and developer protections. As previously reported by The Coin Headlines, the bill would need support from 60 Senate members before it could move closer to the president’s desk.
Public Citizen’s report places this policy push inside a broader political spending pattern. Crypto companies are spending while Congress debates rules that could decide which agencies oversee digital assets and how crypto firms operate in the U.S.
Reuters reported that the industry is seeking further measures after earlier policy gains, including stablecoin legislation. The report also said the CLARITY Act has faced Senate hurdles, with some Democrats raising concerns over political figures and crypto ventures.
Colorado race shows local pressure
The Public Citizen report also comes as Colorado voters head to the polls in closely watched primaries. The state’s 8th Congressional District has drawn attention because outside spending from crypto and tech-linked PACs has reached a local race.
Rutinel’s campaign received at least $2 million in support from committees tied to Schmidt and Larsen. The race has become one of Colorado’s most expensive, with tech and AI donors taking an active role.
The district shows how national tech and cryptocurrency policy fights can move into local congressional races. These contests can shape future votes on digital assets, artificial intelligence, online betting, and financial regulation.
