Key facts
- Crypto industry spent $176 million on over 100 midterm races.
- Ultra-wealthy executives spent over $56 million this cycle.
- Winklevoss twins contributed nearly $13 million each, backing MAGA Inc and the Digital Freedom Fund.
- Chris Larsen spent at least $14.6 million, supporting Democratic-aligned and issue-focused groups.
- Marc Andreessen and Ben Horowitz each gave $3 million to MAGA Inc.
- Mike Novogratz donated at least $1.9 million, primarily to Democratic-leaning groups.
The cryptocurrency industry has spent approximately $176 million on over 100 midterm races as part of a strategy to cultivate allies in Congress and shape its legislative future. Executives like the Winklevoss twins, Brian Armstrong, Chris Larsen, Marc Andreessen, Ben Horowitz, and Mike Novogratz have contributed millions to candidates and PACs, with spending extending beyond digital assets to issues like technology, innovation, and economic growth. The Winklevoss twins notably backed MAGA Inc and the Digital Freedom Fund, while Larsen supported Democratic-aligned groups. Andreessen and Horowitz also contributed to MAGA Inc, and Novogratz directed funds to Democratic-leaning organizations.