America’s Most Pro-Crypto Congress To Date Raked In Over $245 Million From Crypto PACs

The cryptocurrency industry has made its mark on U.S. politics in a big way. In the 2024 election cycle, crypto-related Political Action Committees (PACs) and affiliated groups poured more than $245 million into campaigns, reshaping Congress with a wave of pro-crypto candidates.

In what is being hailed as the most crypto-friendly Congress in history, the cryptocurrency sector has successfully funneled millions into legislative races across the country. Among the key figures to benefit from this unprecedented backing is Bernie Moreno, a Cleveland businessman who recently made headlines with his victory over Democratic Senator Sherrod Brown. Moreno’s rise has cemented his position as one of the most influential pro-crypto voices in Washington.

The Crypto PAC Surge: Over $245 Million in 2024

The 2024 election cycle saw an extraordinary financial push from the cryptocurrency sector. According to data from the Federal Election Commission, cryptocurrency-related PACs and their allies invested more than $245 million into congressional races, marking a sharp rise in crypto industry involvement in politics. This influx of cash accounted for nearly half of all corporate contributions during the election cycle, according to watchdog group Public Citizen.

These donations weren’t just about money—they were strategically directed at reshaping the political landscape. One of the key players in this effort was the Stand With Crypto Alliance, an advocacy group launched by Coinbase, which used a grading system to target candidates who supported blockchain innovation. The alliance’s strategy helped push over 300 pro-crypto lawmakers into office, giving the cryptocurrency industry unprecedented influence in Congress.

A New Political Force: The Crypto Lobby’s Strategic Approach

Unlike traditional industries such as Big Tech, which often focuses on post-election lobbying, the cryptocurrency sector invested heavily in the electoral process itself. The approach was simple but effective: flood the system with funding, run targeted advertising, and frame candidates as either crypto allies or adversaries.

As a result, the crypto industry gained a critical foothold in Washington, with a new wave of legislators who are poised to push for policies that support blockchain and cryptocurrency growth. The results have been striking—pro-crypto candidates now hold a strong majority in both the House and Senate, ensuring that cryptocurrency-related bills will have a fighting chance.

Fairshake, a super PAC formed to support pro-crypto candidates, played a central role in this success. Backed by Coinbase, the largest U.S. digital asset exchange, Fairshake helped raise and spend tens of millions of dollars to back candidates across the political spectrum. The PAC’s influence was felt in key races, including Democratic Senate candidates in Arizona and Michigan, as well as Republican Jim Justice in West Virginia.

The Moreno Factor: A Pro-Crypto Champion

One of the most notable beneficiaries of crypto PAC funding was Bernie Moreno, a former car dealership owner and blockchain startup founder. Moreno’s victory over the long-serving Senator Sherrod Brown of Ohio was seen as a major coup for the crypto industry. He went from being a political outsider to a pro-crypto powerhouse, thanks in part to a staggering $40 million in campaign contributions from the cryptocurrency community.

Moreno’s campaign was closely aligned with the crypto sector, and his blockchain startup, Champ Titles, which digitizes vehicle titling and registration, added credibility to his pro-innovation message. His victory was not just about securing a Senate seat—it was about sending a clear message that pro-crypto candidates could win in both major parties.

Moreno’s campaign also benefited from the endorsement of Silicon Valley tech giants such as Marc Andreessen and Ben Horowitz. His meetings with Coinbase co-founders Brian Armstrong and Fred Ehrsam further solidified his standing as a champion of blockchain technology in Washington.

Fairshake’s Multi-Million Dollar Ad Blitz

Fairshake’s role in the 2024 elections cannot be overstated. With tens of millions of dollars at its disposal, the super PAC launched an aggressive ad campaign that spanned both political parties. In California, Fairshake’s support helped defeat Democratic Rep. Katie Porter in the Senate primary, while it backed pro-crypto candidates in swing states like Arizona and Michigan.

By the end of the election cycle, Fairshake had raised $78 million for the 2026 midterms, signaling that the crypto industry is just getting started in its political efforts. The PAC’s strategic use of funds helped cement a new pro-crypto political establishment that could shape U.S. policy for years to come.

The Industry’s Message: Anti-Crypto is Bad Politics

Coinbase CEO Brian Armstrong made it clear that opposing cryptocurrency is no longer politically viable. “Being anti-crypto is simply bad politics,” Armstrong declared after Moreno’s victory. His remarks underscore the growing recognition within both parties that cryptocurrency and blockchain technology have a legitimate place in the U.S. economy.

With crypto-related PACs reshaping Congress, the cryptocurrency industry now finds itself with more allies than ever in Washington. The influx of funding and the rise of pro-crypto lawmakers are a testament to the sector’s growing influence in American politics.