Crypto super PACs have hundreds of millions ready to spend on the midterms -- Molly White

[erronis]

https://www.citationneeded.news/crypto-super-pacs-2026-midterms/

We're still eight months out from Election Day, but the cryptocurrency industry has already dumped at least $288 million into the 2026 midterms -- more than double what they spent in the entire 2024 cycle, when their $130 million in spending was itself a historic sum that reshaped Congress. That earlier investment bought them Trump, a deregulatory Congress, and the systematic dismantling of financial oversight that they'd spent years demanding. With Republican anxiety mounting as midterms approach, and the crypto industry's wishlist only partially fulfilled, it seems they're preparing to spend whatever it takes to finish the job.

The pro-crypto super PACs that were the focus of my 2024 campaign finance reporting are sitting on $221 million in unspent cash, waiting to deploy it against candidates who might otherwise be tempted to stand up to the crypto industry's deregulatory demands and self-drafted legislation. And these PACs claim to have $100 million more in committed funds that haven't shown up in official filings yet.

I've been hard at work updating FollowTheCrypto.org, a website I built and maintain to track cryptocurrency industry political spending. I have more work to do, but the numbers that have emerged already reveal the staggering amount the crypto industry is preparing to spend to cement their grip on Congress as they work to rewrite the rules for their companies.

This year, I'm also more closely tracking direct contributions from cryptocurrency companies and their executives to candidates and other campaign committees. The industry's political operation has matured beyond simply funneling money through pro-crypto super PACs -- individual companies and executives have developed their own funding strategies, backing candidates and causes that serve their interests. A significant portion of this direct spending has gone toward buying favor with President Trump through contributions to Trump-aligned PACs -- and that's not counting funding for his pet projects like the East Wing ballroom renovation or military parade, or the money the industry has funneled to his family's crypto ventures.

By The Numbers



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[Lovie777]

1. The rates things are going.............

crypto may lose it's value.

[erronis]

2. Yeah. I doubt the crypto-bros are really going to pay real money to buy some cheap repuglicons.

[Norrrm]

3. Now, why would crypto bros want to influence legislation affecting their industry?

A volatile, unstable, wishful 'currency' with no assets or gov't support backing it.

The big money return in crypto is:::
1. Starting it, hyping it, selling it, and getting out, leaving the
suckers holding the bag.
2. Handling/storing it for others.
...a. Not your own money/crypto. Someone else's money/crypto.
...b. Lots of fraud/money manipulation/theft/lack of regulation.
3. Backed by trust/faith/great promises/optimism... but no
real assets.
4. It can literally disappear and good luck with lawsuits.
------------------
-------------------------------------------
A few have profited by 'investing' but not the majority.

Bitcoin is one of the very, very few that has made profit.
And that is only because enough people WANT to believe in it.
Even bitcoin has no real assets backing it.

BC is used as a fantastic example of crypto but it is a lucky outlier.

Hundreds of others have flopped.
Should the US Gov't invest in/purchase massive amounts of crypto with taxpayer 'real' money?
Every legislator approving this should be made to invest half their family's life savings in the very same crypto to show their confidence in it.

BTW... You're buying it with your 'real' money.
Will they let you buy it with your other old broken crypto?

[erronis]

4. Excellent post. I'll guess you aren't heavily "invested" in crypto!

Although, like the AI craze, even people like Altman are capable of dissing their own reason-for-existence.