US midterm elections 2026 funding is quietly shaped by cryptocurrency donations. Check how fat checks are benefitting Donald Trump, Republicans

US midterm elections 2026 early voting has started as the polling day is scheduled for November 3. As all-crucial polls for US President Donald Trump, Republicans and Democrats are nearing, cryptocurrency businessmen have become pivotal figures in American politics. Cryptocurrency linked executives have reportedly spent more than $56 million during the current election cycle so far.

There are number of crypto executives who have spent at least $500,000 on the 2025-2026 cycle, according to the most recently available Federal Election Commission filings.

Cryptocurrency executives have spent on crypto-friendly candidates and crypto super political action committees, or PACs, that can raise and spend unlimited sums, contributing towards the industry's $175 million blitz this cycle, according to federal filings. However, a large chunk of the spending extends beyond digital assets to candidates and fundraising vehicles aligned with their views on issues ranging from technology, innovation and energy policy, to taxation and economic growth, Reuters reported.


Totals include contributions to candidates, party committees and PACs, and certain donations made through affiliated entities. They do not include donations to "dark money" political nonprofits, which are not required to disclose donors.

Crypto Donors

Crypto entrepreneurs and co-founders of Gemini Space Station Cameron and Tyler Winklevoss have contributed nearly $13 million each 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 (DFF), a super PAC that has been spending this cycle to oppose Democratic candidate and crypto skeptic Sherrod Brown, who is running for a US Senate seat in Ohio.

Coinbase co-founder and CEO Brian Armstrong, one of the crypto industry's most high-profile advocates, has contributed roughly $1 million to federal candidates, party committees and PACs, dishing the cash out roughly evenly to both parties. He also made five-figure donations to an array of congressional candidates on both sides of the aisle.

Chris Larsen, a co-founder of blockchain payments firm Ripple Labs, has spent at least $14.6 million this cycle, mostly on Democratic-aligned and issue-focused groups. That included a $6 million donation to the Invest in Tomorrow Coalition super PAC, which backs candidates supportive of renewable energy. He also donated $4.5 million to You Can Push Back PAC, which focuses on artificial intelligence safety.

Marc Andreessen and Ben Horowitz's eponymous venture capital firm has made major investments in crypto companies, including Coinbase, as well as AI companies. Andreessen gave $3 million to MAGA Inc and roughly $719,000 in other contributions to mostly Republican-leaning party committees, leadership PACs and candidates.

An early bitcoin investor and champion of the cryptocurrency, Mike Novogratz has donated at least $1.9 million this cycle, mostly to Democratic-leaning and independent expenditure groups. That includes about $780,000 to Next Generation Action PAC, which focuses on electing younger Democratic candidates, and $250,000 to The Bench PAC, another Democratic-aligned group.

Chris Dixon, the founder of Andreessen Horowitz's dedicated crypto and blockchain venture arm a16z crypto, has donated roughly $867,000 across Republican and Democratic campaign committees, candidates, leadership PACs and crypto-related groups.

Matt Huang, co-founder of crypto and AI-focused investment firm Paradigm, has contributed at least $831,000, largely to Republican candidates and committees. Charles Cascarilla, CEO of stablecoin and blockchain infrastructure firm Paxos, has contributed roughly $642,000, with the majority supporting Republican candidates via the party's main committees and other PACs.