Tuesday’s US midterm elections will decide all 435 House seats and 35 Senate seats, with the outcome likely to shape the pace of digital-asset legislation. The CLARITY Act remains stalled, and a Democratic majority in either chamber could bring greater scrutiny of crypto policy and potential conflicts of interest.
More than 57 million Americans had voted by Monday, with early-voting totals in several closely watched states above the comparable point in 2022. Republicans currently control both chambers, holding 53 Senate seats. Democrats have 45, alongside two independents who caucus with them. Republicans also hold a narrow House majority. Democrats would need a net gain of four Senate seats and three House seats to take control of both chambers.
Crypto groups have spent about $176 million
Crypto industry groups have spent about $176 million across more than 100 races in the 2026 election cycle. Among the largest sources of funding are Fairshake and its affiliated super PACs, Defend American Jobs and Protect Progress, backed by Coinbase, Ripple and Andreessen Horowitz.
In early October, Fairshake said it was supporting 32 House members seeking re-election: 19 Republicans and 13 Democrats. All had voted for the CLARITY Act in 2025. Other groups aligned with the crypto industry include the Digital Freedom Fund, backed by Gemini co-founders Tyler and Cameron Winklevoss, and Fellowship PAC, which supports candidates from both parties.
The Blockchain Association’s election tracker lists 61 congressional races to watch: 18 Senate contests and 43 House races. Its criteria include how competitive a race is, candidates’ positions on crypto assets and whether they serve on committees overseeing digital-asset legislation.
Ohio Senate race draws the most crypto spending
About $63 million in crypto industry funding has gone toward the contest between Ohio’s Republican senator and his Democratic challenger. Fairshake has spent roughly $56 million, while the Winklevoss-backed Digital Freedom Fund has spent about $7 million. The spending has supported the Republican candidate or opposed the Democrat.
The crypto advocacy group Stand With Crypto rates the Democratic candidate as strongly opposed to cryptocurrency. The group cites 17 relevant public statements and his 2024 vote against overturning the Securities and Exchange Commission’s SAB 121 guidance on accounting for crypto custody.
In 2024, Fairshake affiliate Defend American Jobs also spent more than $40 million supporting the Republican candidate, who ultimately won the state’s Senate seat.
Nebraska spending figures have been updated
Nebraska’s Republican incumbent is facing an independent challenger. By around October 27, Fairshake had spent nearly $11 million supporting the incumbent. Updated figures compiled from Federal Election Commission data show that, as of November 3, its affiliated super PAC Defend American Jobs had spent about $13.5 million opposing the independent candidate.
The incumbent serves on the Senate Banking Committee and supports both the CLARITY Act and the GENIUS Act. In May, he voted to advance the CLARITY Act out of committee, and in September he backed a Senate procedural vote that failed. The votes highlight how seats tied to the Banking Committee could affect the next steps for digital-asset market-structure legislation.
Texas and Wyoming candidates take different approaches
In Texas, the Republican candidate has received support from the Digital Freedom Fund. Both candidates have earned an A rating from Stand With Crypto. The Republican supports passage of the CLARITY Act, arguing that clear rules would help the US remain competitive in digital assets. The Democratic candidate also backs clear regulatory rules, while calling for consumer protections. In 2025, the Democrat voted in the Texas legislature to establish a state strategic Bitcoin reserve.
Wyoming’s race will fill the seat of a senator who is not seeking re-election. The departing senator chaired the Senate Banking Committee’s digital-assets subcommittee, introduced the 2025 Bitcoin Act to establish a US strategic Bitcoin reserve, and supported the CLARITY and GENIUS Acts.
The Republican candidate supports crypto legislation, voted for the FIT21 market-structure bill and co-sponsored a bill to restrict the Federal Reserve from issuing a central bank digital currency. No public record of the Democratic candidate’s position on crypto has been identified.
Maine race reflects a split over the CLARITY Act
Maine’s Republican senator was one of four Republicans who opposed advancing the CLARITY Act in September, citing concerns about its effect on bank deposits. She is facing a Democratic challenger who supports clear crypto rules, an end to the “debanking” of lawful crypto businesses and Americans’ right to self-custody digital assets.
The state results will shape the balance of power in Congress and could change the legislative prospects for the CLARITY Act and other digital-asset measures. Disclosed industry spending and candidates’ positions offer a snapshot of crypto’s involvement in congressional races; the bill’s path will depend on the post-election makeup of Congress and lawmakers’ disagreements over its provisions.