Key facts
- Former New York Governor Andrew Cuomo believes crypto's heavy support for Republicans alienates Democrats, hindering federal legislation.
- Crypto PACs have spent $54.3 million on Republicans and $26.2 million on Democrats in the 2026 election cycle.
- Cuomo advised the industry to be more balanced in political donations to pass legislation like the CLARITY Act.
- He argued crypto technology aligns with Democratic goals of empowering individuals.
- The CLARITY Act passed the House in July 2025 with bipartisan support (78 Democrats, 216 Republicans), but 134 Democrats voted against it.
- A September procedural vote saw all Senate Democrats and four Republicans vote against advancing the CLARITY Act.
Former New York Governor Andrew Cuomo stated that the crypto industry's significant financial backing of Republicans has alienated Democrats, a move he believes is hindering the passage of federal crypto legislation. Speaking at the Token2049 event, Cuomo advised the industry to adopt a more balanced approach to political donations to secure the bipartisan support necessary for bills like the CLARITY Act.
Cuomo highlighted that crypto-focused political action committees have spent considerably more supporting Republicans ($54.3 million) than Democrats ($26.2 million) in the 2026 election cycle, with an additional $23.2 million spent opposing Democrats, according to Tech Influence Watch figures checked on Thursday.
"When you invest heavily in the Republican Party, by definition, you’re going to alienate Democrats," Cuomo said. He suggested that a Democratic-controlled Congress could either dismantle existing crypto initiatives or collaborate with the Trump administration to enact the CLARITY Act. "You need Democrats to pass the bill. You need Republicans. You have to be more balanced."
Cuomo also challenged the notion that Democrats are inherently opposed to crypto, arguing that the technology's potential to empower individuals aligns with the Democratic Party's long-standing goals. While crypto legislation has seen support from both parties, Republicans have shown more unity behind major bills. The CLARITY Act, for instance, passed the House in July 2025 with 78 Democrats and 216 Republicans, though 134 Democrats voted against it. Separately, 18 Democratic senators backed the GENIUS Act, which passed the Senate in June 2025.
However, a September procedural vote saw all Senate Democrats and four Republicans vote against advancing the CLARITY Act, with some concerns reportedly linked to potential conflicts of interest involving Trump's crypto businesses. Subsequently, seven Democratic senators issued a joint statement reaffirming their commitment to the CLARITY Act. Fairshake, a crypto-focused PAC, announced on Monday that it would support 32 House candidates in the upcoming November midterm elections, comprising 19 Republicans and 13 Democrats.