Crypto PACs spend $170M in US midterms, fail to secure wins

Crypto industry political action committees injected over $170 million into the 2026 US midterm elections, but their preferred Republican candidates suffered multiple defeats, leaving the sector with diminished congressional influence. This marks a reversal from 2024, when crypto-backed candidates fared better. The outcome suggests diminishing political returns on crypto campaign spending and may signal a shift in regulatory momentum.

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