Recently, several cryptocurrency-related Super Political Action Committees (Super PACs) in the United States have been actively preparing for the 2026 midterm elections, successfully raising approximately $263 million. This amount is not only more than double that of the current largest political action committee—Fairshake (projected fundraising for 2024)—but also slightly exceeds the expenditures of the entire oil and gas industry during the same period. This phenomenon indicates that, as an emerging financial sector, the crypto industry is rapidly enhancing its political influence at an astonishing pace and seeking to secure a significant position in future elections and policy-making.
According to the latest publicly available data, the fundraising speed and scale of these crypto PACs have far surpassed those of other traditional industries, even exceeding the energy industry, which has long dominated U.S. political contributions. The energy industry, including oil and gas companies, has always held an important position in American politics, particularly wielding substantial economic support in influencing legislation and policy-making. By funding political campaigns and promoting favorable legislative reforms, the energy industry has long shaped U.S. energy policies, ensuring a favorable market environment. However, with the rapid growth of funds in the crypto industry, it appears to be gradually competing with these traditional sectors and even surpassing them in some aspects.
The funds raised by these crypto-related PACs are primarily used to support candidates aligned with cryptocurrencies, promote policies favorable to the crypto industry, and in some cases, fund opposition to legislation that may restrict the development of crypto technology and markets. This move not only highlights the financial strength of the crypto industry but also demonstrates its intention to leverage political donations to advance a regulatory framework in its favor. Through such means, the crypto industry seeks to secure more lenient policy support within an increasingly stringent financial regulatory environment.
Furthermore, data also show that crypto PACs have begun to exert a stronger voice on the political stage by actively promoting legislation, funding specific candidates, and facilitating the appointment of regulators who support cryptocurrencies. This strategy not only impacts election cycles but also lays the groundwork for future policy decisions. These actions by the crypto industry can be seen as a means to strive for legitimacy and further development, especially against the backdrop of the U.S. Securities and Exchange Commission (SEC) and other regulatory agencies gradually tightening their oversight of crypto assets.
Overall, as the 2026 midterm elections approach, the crypto industry has significantly elevated its market position through capital and political influence. This trend indicates that the crypto industry is no longer merely a realm of technological innovation but has become a powerful political and economic force, actively seeking greater policy support and legitimacy for its long-term development. In the coming years, as crypto technology continues to mature, it is expected that more such PACs will emerge, further advancing the crypto industry's influence on policy levels in the United States and globally.
