Cryptocurrency companies have become the single largest corporate political spenders in the United States, pouring $189 million into the 2026 midterm elections — more than they spent during the entire 2024 election cycle — according to a new report from the consumer advocacy group Public Citizen.
The crypto sector accounts for 37% of the $517 million that corporations have reported spending on the 2026 midterms so far, a figure that already surpasses the previous record of $461 million set during the full 2024 cycle.
Months remain before Election Day.
The report, authored by Public Citizen researcher Rick Claypool and published June 30, draws on Federal Election Commission data and finds that corporations have now spent nearly one third of the $1.58 billion in total corporate election spending since the Supreme Court’s 2010 Citizens United decision — all in a single election cycle.
Corporate super PACs pioneered by crypto
At the center of the spending surge is a category the report calls “corporate supremacist super PACs” — political committees structured not around party affiliation, but around advancing the interests of specific industries. The strategy, pioneered by the crypto sector in 2024, is now being replicated across multiple industries.
The primary crypto-aligned vehicle, Fairshake, has received $82.6 million in corporate contributions this cycle — 60% of its $135 million total. Coinbase contributed $33 million to Fairshake, and Ripple Labs added $48.5 million. Josh Vlasto, a co-leader of the super PAC and a former chief of staff for New York Gov. Andrew Cuomo, said the group is building “an aggressive, targeted strategy” to support pro-crypto candidates across the country.
Andreessen Horowitz, the venture capital firm that ranked among Fairshake’s top backers in 2024, has shifted focus for the 2026 cycle.
The firm contributed $50 million to Leading the Future, a super PAC oriented around AI policy. Leading the Future has raised $75.1 million in total, with corporate contributions making up 67% of that figure. Combined with direct donations from co-founders Marc Andreessen and Ben Horowitz, the firm’s political footprint reaches $115.5 million.
A third sector-specific super PAC, Win for America, has received $43 million from online betting companies FanDuel and DraftKings, which contributed $19.5 million each. Win for America’s corporate contributions represent 100% of its reported funding.
MAGA Inc. also a major beneficiary
Beyond sector-specific super PACs, corporations have directed significant sums to MAGA Inc., the super PAC originally created to support Trump-endorsed candidates. MAGA Inc. has received $120.6 million in corporate contributions this cycle — 35% of its $342 million total raised.
Crypto.com parent Foris Dax contributed $35 million to MAGA Inc., making it the top corporate donor to the committee. Other crypto contributors include Gemini Trust Company ($4.4 million), Blockchain.com ($5 million), and Ondo Finance ($2.1 million).
Tools for Humanity Corporation — which runs OpenAI CEO Sam Altman’s biometric identity startup — contributed $5 million to MAGA Inc. days before Trump’s inauguration. Altman has since stated publicly that he “would love to see money out of politics.”
OpenAI president Greg Brockman and his wife Anna gave $25 million to MAGA Inc. and $25 million to Leading the Future, with The Wall Street Journal reporting that Brockman and OpenAI’s global affairs chief Chris Lehane were involved in initiating the latter super PAC.
Undisclosed spending is likely higher
The $517 million figure does not capture all corporate political activity. Meta Platforms is spending an additional $65 million through non-federal super PACs to counter state-level AI regulation, and Anthropic has pledged $20 million to a group backing AI safety-oriented candidates — funds not yet reflected in FEC disclosures.
Dark money organizations, which are not required to disclose their donors, add further uncertainty to the total.
