The crypto industry political action committee has spent $170 million and is generally leaning towards supporting Republican candidates.

Ahead of the November 3rd US midterm elections, crypto industry political action committees have collectively invested nearly $170 million, generally favoring Republican candidates. Fairshake and its affiliates invested $154 million and reserved $56 million. The Digital Freedom Fund invested over $8 million to prevent Democratic candidates from winning Senate seats in Ohio, Texas, and Iowa. The Fellowship Fund invested $3.8 million in Republican candidates and $600,000 in Democratic candidates, including $300,000 supporting New York Representative Ritchie Torres. Fairshake's financial backers include Coinbase, a16z, and Ripple Labs.