Crypto, AI, and Tech Giants Have Spent $294 Million On 2026 Midterms — Ripple Among Top Donors

Crypto companies, AI firms, Silicon Valley investors and online betting corporations have already poured $294 million into the 2026 midterm elections — and not a single vote has been cast yet. 

That figure accounts for 57% of the $517 million in total corporate political contributions reported for the cycle so far, according to a report published Wednesday by Public Citizen.

The Super PACs Behind The Spending 

Per the report, most of that surge is being driven by the crypto sector, which is once again using “the same playbook” it refined in the 2024 election cycle — funneling large sums into super Political Action Committees (PACs). AI and online betting are following the same model.

Three super PACs sit at the center of the spending. Fairshake, focused on crypto-friendly candidates, has pulled in $82 million in corporate contributions — 60% of its total $135 million raised this cycle. 

Leading the Future, which prioritizes AI policy, has received $50 million from corporations, representing two-thirds of its $75.1 million total. Win for America, backed by the online betting industry, has taken in $43 million — 100% of everything it has raised. 

The single largest donor is Andreessen Horowitz, the venture capital firm with investments across both AI and crypto. Having backed Fairshake heavily in 2024, the firm shifted priorities this cycle, directing $50 million toward Leading the Future and its AI policy agenda.

Crypto’s Biggest Donors 

Behind Andreessen Horowitz, Ripple, Coinbase (COIN), Crypto.com (CRO), and entities tied to Gemini (GEMI) co-founders Tyler and Cameron Winklevoss collectively spent $149 million. 

Ripple and Coinbase sent $81.5 million to Fairshake. Crypto.com and Gemini, alongside a $5 million contribution from Blockchain.com, directed $44.4 million to MAGA Inc., the super PAC backing Donald Trump. The Winklevoss Capital Fund put $21.3 million into the Digital Freedom Fund, an entity they created solely to back Republican candidates seen as allies of the crypto sector.

A third crypto super PAC completes the picture. Fellowship PAC is backed primarily by Cantor Fitzgerald — previously run by Howard Lutnick, now Trump’s Secretary of Commerce, and currently managed by his sons. 

The same firm serves as Tether’s primary banker, and the PAC itself is reportedly run by Jesse Spiro, Tether’s top lobbyist. Federal Election Commission records show $11 million raised so far — but Fellowship PAC has pledged to spend at least $100 million before November.

Featured image generated with OpenArt.