With the first primaries of the US midterm elections now under way, the cryptocurrency industry is injecting millions of dollars into congressional races across the country, with particular emphasis on Illinois, which has attracted the bulk of the campaign financing. Arkansas, Alabama and Texas have also drawn the industry’s donations.
Crypto Pacs, firms and investors have already spent $32m supporting industry-friendly candidates and opposing its detractors, according to Federal Election Commission data, building on the industry’s expansive spending in the 2024 presidential election.
