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Crypto · November 4, 2026

Crypto PACs spent $170 million on the midterms—and came up nearly dry | Fortune

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In the 2026 U.S. midterm elections, Democratic candidates achieved a sweeping victory, leading to significant losses for the cryptocurrency industry's political action committees (PACs). Despite heavy investment, key pro-crypto incumbents and challengers lost high-profile races in states including Ohio, Michigan, Wisconsin, Missouri, and Iowa. Notable defeats included Ohio Republican Senator Jon Husted and high-ranking House Financial Services Committee members Bill Huizenga and Bryan Steil.

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Hype check

How the hype check works

Confirmed · 0

Backed by filings, on-chain data, official statements or several independent publishers.

  • None identified.

Claimed · 1

Said by a company, project or person; not yet independently confirmed.

  • Fairshake had cultivated a reputation as an unstoppable force (CoinDesk)

Speculation · 1

Price talk, forecasts or unnamed sources, quoted as someone else's view.

  • Key losses raise questions about what comes next for crypto political influence (Forbes)

Reported by multiple outlets

  • Democrats won sweeping victories in the 2026 midterm elections
  • Republican Senator Jon Husted lost to Democrat Sherrod Brown in Ohio
  • Republican Rep. Bill Huizenga lost his reelection bid in Michigan to Democrat Sean McCann
  • Republican Rep. Bryan Steil lost his reelection bid in Wisconsin to Democrat Mitchell Berman

Reported by only some outlets

  • Bitcoin Magazine notes Republican Reps. Ann Wagner and Zach Nunn also lost their reelection bids

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