U.S. crypto industry rethinks campaign spending strategy for 2028 elections

The U.S. crypto industry is expected to adjust its political fundraising strategy after Democrats won control of both chambers of Congress in the U.S. midterm elections, Cointelegraph reported. Crypto industry super PACs spent more than $176 million across about 100 races, including primaries, in this midterm cycle, up from more than $130 million in 2024. Fairshake and affiliated PACs, the main vehicles for crypto industry political spending, deployed a combined $154.5 million. But questions have emerged about the effectiveness of that spending after several key backed candidates lost. Fairshake is reported to hold more than $67 million ahead of the 2028 elections, and spokesperson Jeff Vetter said a new electoral landscape would take shape before that cycle.