Crypto’s Political Machine Amasses $263 Million to Rival Big Oil

Fresh off its success in the 2024 elections, the crypto industry is amping up its spending power ahead of the 2026 midterms.

A handful of crypto-focused super political action committees are building up a war chest of around $263 million, according to Federal Election Commission filings and public statements. That is nearly double what the largest one, Fairshake, deployed in 2024 and slightly more than what the entire oil and gas industry spent in that cycle, according to data from OpenSecrets.

Since the 2024 spending spree, with Republican majorities in both chambers of Congress, lawmakers have passed legislation that the ...