Crypto PACs eye 2028 “new map” as Democrats take Congress
Democrats won control of both chambers in the 2026 midterms, and Sherrod Brown defeated Jon Husted in Ohio despite more than $64 million in crypto PAC spending to support Husted. Crypto groups spent about $176 million across 100 races, with Fairshake and affiliates accounting for $154.5 million. Their results were mixed: they helped retain Pete Ricketts in Nebraska but failed to stop several candidates in Illinois, Massachusetts, Texas and the House. The Ohio loss may weaken the perceived electoral power of crypto PACs. With Elizabeth Warren positioned to chair Senate Banking, the industry expects greater scrutiny and potentially slower legislation. Fairshake has more than $67 million remaining for the 2028 cycle. Advocates say they will need to build relationships with new lawmakers, many of whom have limited records on crypto.
