The US crypto industry raised approximately $193 million for the midterm elections.

The US crypto industry has raised approximately $193 million for the upcoming midterm elections, setting a new record for the sector. The Fairshake Political Action Committee (PAC) disclosed that this round of fundraising included $25 million each from Coinbase and Ripple, and approximately $24 million from a16z, placing it among the most financially powerful political forces in the US. The report states that in the last election cycle, Fairshake and its affiliates spent over $130 million supporting pro-crypto candidates. In addition, the Winklevoss brothers, co-founders of Gemini, donated approximately $21 million worth of Bitcoin to the Digital Freedom Fund PAC, and another major PAC, with an executive from Cantor Fitzgerald serving as its treasurer, also stated that it has raised approximately $100 million to support pro-crypto candidates. (Financial Times)