The crypto industry is pouring millions into this year’s midterm elections to secure more allies in Congress.

Reuters reported Tuesday that the industry has spent roughly $176 million across more than 100 congressional races this election cycle.

The spending spree is part of a broader strategy to maintain the industry’s political influence after crypto-friendly President Donald Trump leaves office in 2029, according to the report. It also comes as Democrats have a strong chance of retaking the House in November, potentially bringing greater regulatory scrutiny to the industry.

While the industry is backing candidates on both sides of the aisle, Republicans have generally been more supportive of crypto—especially Trump, whose family made roughly $2.3 billion from crypto ventures between mid-2024 and April 2026, according to a separate Reuters investigation.

In contrast, the Biden administration took a tougher stance on crypto, particularly following the collapse of FTX in 2022. During Biden’s presidency, the U.S. Securities and Exchange Commission (SEC) imposed more than $6 billion in penalties across 98 cryptocurrency-related enforcement actions.

Now, the industry appears willing to spend big money to avoid a return to that level of scrutiny.

In June, advocacy group Public Citizen reported that crypto was leading a wave of corporate political spending, alongside artificial intelligence, Big Tech and online betting companies.

Together, those industries had contributed $294 million to political committees this election cycle as of June. Crypto companies accounted for $189 million, or 37% of all corporate contributions tracked by the group.

Much of the industry’s election spending has been directed through Fairshake, its largest super political action committee (PAC).

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