Fresh off crypto's success in the 2024 election and with the value of cryptocurrencies like Bitcoin and XRP soaring, Brad Garlinghouse, CEO of the crypto company Ripple, said his company has already contributed $25 million towards an industry super PAC with an eye toward the 2026 midterm elections.Crypto companies made a third of all direct corporate contributions to super PACs during the 2024 election. Of the 29 Republicans and 33 Democrats the industry backed, 85% won.
Ripple contributed $48 million to political action committees that supported pro-crypto Republicans and Democrats during the 2024 campaign.In the final months of a hotly contested Senate race in Ohio, Republican Bernie Moreno received $40 million of positive ads from a crypto-funded super PAC. The ads helped Moreno defeat incumbent Democratic Sen. Sherrod Brown, the chairman of the Senate Banking Committee and an outspoken crypto critic.