Crypto industry poised to be big player in key 2026 senate races

Crypto backers are reportedly heavily invested in the 2026 midterm elections because of the potential for crypto regulation.

Fairshake, a super PAC “bankrolled by crypto’s biggest players,” already has $116 million available that it intends to spend on the election, according to CNBC.

“With the midterms on the horizon, we are poised to continue backing candidates committed to advancing innovation, growing jobs, and enacting thoughtful, responsible regulation,” Fairshake said in a statement a couple of months ago.

What major crypto players like Coinbase and Ripple Labs want is pro-crypto candidates like, as an example, Sen. Ted Cruz:

Republicans are going to unleash crypto. I am proud to stand with Bitcoin.

I am the only member of the U.S. Senate who is a Bitcoin miner, and I am proud to say that Texas is an oasis for Bitcoin. pic.twitter.com/4kgOJDnMGn

— Ted Cruz (@tedcruz) December 22, 2024

Another pro-crypto advocacy group, Stand with Crypto, told Fox Business Network that it specifically wants “common-sense regulations.” This is why the group was pleased when Republicans successfully pushed the GENIUS Act through a key Senate hurdle this past Monday.

In fairness, some Democrats helped.

“The procedural vote on the GENIUS Act — which would establish the first regulatory framework for issuers of stablecoins, digital tokens pegged to fiat currencies like the U.S. dollar — was 66-32,” according to NBC News. “Sixteen Democrats voted with the majority of Senate Republicans to advance the bill.”

According to Stand with Crypto, its members “contacted their senators tens of thousands of times” prior to the vote on Monday.

The Senate heard our voices.

SWC advocates contacted their senators tens of thousands of times and over 120K watched our livestream of the GENIUS Act vote tonight.

The next step is a final passage vote, but the hard part (passing the filibuster), is done.

SUCCESS ️ https://t.co/d3I2l7xF3t pic.twitter.com/oIcKemsO9k

— Stand With Crypto️ (@standwithcrypto) May 20, 2025

“The GENIUS act is the first step in solidifying the USA as the permanent home for the crypto community,” Stand with Crypto Director Mason Lynaugh said in a statement.

“The more than 2.2m SWC advocates had an undeniable impact in the 2024 election, and they are watching to see if their lawmakers will stand with them or against the future of financial technology, the future of payments, and the futures of the 52 million Americans who own crypto,” she added.

And those advocates overwhelmingly supported President Donald Trump and voted in last year’s elections.

“Voters who say that they own cryptocurrency or related assets favor former President Donald Trump over Vice President Kamala Harris in the 2024 US Presidential election by 12 points,” Fairleigh Dickinson University reported last year after conducting a poll.

“Trump has been reaching out to the crypto community, and it seems to have paid off,” university government/politics professor Dan Cassino said at the time. “It might be easy to dismiss them as insignificant, but I don’t think people realize exactly how widespread crypto ownership is.”

New poll from Fairleigh Dickinson says crypto owners are leaning toward Trump, 50-38, similar to Paradigm’s data from March (when they backed Trump over Biden 48-39).

FDU also finds owners overall skew young and nonwhite. https://t.co/6JaI46a0kOhttps://t.co/IvVZ2tBfvv

— Justin Slaughter (@JBSDC) August 30, 2024

As for the upcoming midterms, crypto support can only help Republicans, not hurt them. Though in some cases, it’ll only be able to help them to a degree.

Take the case of Sen. Thom Tillis. While he maintains a great score with Stand with Crypto, his opponent, Wiley Nickel, “has carved a lane as a cryptocurrency advocate who broke with the Biden administration’s approach to regulation,” according to Fox Business.

In New Hampshire, meanwhile, the Democrat running for outgoing Sen. Jeanne Shaheen’s seat, Rep. Chris Pappas, boasts a “D” rating with Stand with Crypto. Republicans, on the other hand, haven’t yet picked a candidate, though really anyone will do against Pappas.

In Maine, the not-so-beloved Sen. Susan Collins boasts an “A” rating on crypto, meaning she may just stand a chance despite being in a state that voted for then-Vice President Kamala Harris last.

The guy running against her, Jordan Wood, doesn’t have a rating yet. However, he previously served as chief of staff to former Rep. Katie Porter, and her rating with Stand with Crypto was an “F.”

Senior Staff Writer
[email protected]

V. Saxena is a staff writer for BizPac Review with a decade of experience as a professional writer, and a lifetime of experience as an avid news junkie. He holds a degree in computer technology from Purdue University.

Latest posts by Vivek Saxena (see all)

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. Thank you for partnering with us to maintain fruitful conversation.