Ripple, Coinbase Drive $189M Crypto Push into U.S. Elections

TLDR

• Crypto companies have contributed $189 million to the 2026 U.S. midterm election cycle so far.
• The sector accounts for 37% of the $517 million disclosed in total corporate political spending.
• Ripple led all crypto firms with $49.6 million in contributions during the current cycle.
• Coinbase and Crypto.com followed with $35.2 million and $38.6 million, respectively.
• Entities linked to Gemini and founders Tyler Winklevoss and Cameron Winklevoss added $25.7 million combined.

Crypto firms have increased political spending ahead of the 2026 U.S. midterm elections, according to a new report. The data shows the sector has contributed $189 million so far, reflecting strong financial engagement. Moreover, Ripple, Coinbase, and other firms rank among the largest corporate donors this cycle.

Crypto firms expand political spending footprint

Crypto companies now account for 37% of the $517 million disclosed corporate political spending this cycle. According to Public Citizen, Ripple leads the sector with $49.6 million in total contributions. Meanwhile, Crypto.com and Coinbase follow with $38.6 million and $35.2 million, respectively.

Ripple maintained a leading role as corporate funding increased across several political action committees. In addition, entities linked to Gemini and its founders added $25.7 million in contributions. As a result, four major crypto groups contributed about $149 million combined.

Ripple strengthened its influence through large allocations to sector-focused political committees during the current cycle. Public Citizen stated that reported totals likely underestimate actual spending levels across the industry. The group said total contributions remain “certainly higher” than official disclosures.

Ripple and Coinbase among leading contributors

Ripple ranked second among corporate donors, behind Andreessen Horowitz, which contributed $51.65 million. Furthermore, Crypto.com placed third, while Coinbase secured the fourth position among contributors. Ripple continued to stand out as a dominant financial participant in political funding activity.

Ripple also directed funds toward major political committees, including Fairshake and MAGA Inc. Fairshake received $82.6 million, while MAGA Inc. secured $56.2 million from crypto-linked sources. These allocations highlight Ripple’s role in shaping financial flows toward key political entities.

Ripple maintained steady contributions as Blockchain.com and Ondo Finance supported MAGA Inc. with $5 million and $2.1 million. Additionally, Cantor Fitzgerald-backed Fellowship PAC received $10 million linked to crypto interests. These developments show Ripple remains active across multiple funding channels.

Crypto outpaces AI and Big Tech donations

Crypto companies contributed more than AI and Big Tech sectors during the same reporting period. AI and Big Tech firms contributed $60 million, with $50.1 million directed to Leading the Future PAC. In contrast, online betting firms added $45.6 million, including $43 million to Win for America PAC.

Ripple continued to influence the broader spending trend as total corporate contributions reached $294 million across four sectors. These industries accounted for 57% of all reported corporate political spending this cycle. Ripple remained central to crypto’s share within this broader financial activity.

Ripple’s involvement also extended to election outcomes through affiliated groups supporting specific candidates. Protect Progress, a Fairshake-linked super PAC, spent $5.5 million in a Maryland primary race. Adrian Boafo won the Democratic primary with backing tied to these contributions.

Ripple maintained visibility as Public Citizen raised concerns about corporate influence in federal elections. The report stated that sector-focused committees support candidates aligned with business interests. Ripple’s continued presence highlights the growing role of crypto funding in U.S. political campaigns.

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