Crypto’s $168 million election: 78 winners, 13 newcomers and one costly defeat

Crypto super PACs successfully backed 78 candidates who won seats in Congress during the 2025-2026 election cycle. Just 13 of these winners will be newcomers to Congress, while most already have experience in Washington. The industry spent $168 million in reported outside spending across five crypto-focused super PACs, including support for unsuccessful candidates and attacks on opponents.

Ohio alone absorbed $64 million in an effort to elect Jon Husted and defeat Sherrod Brown, though Brown ultimately won the Senate seat. These results leave the crypto industry with experienced advocates and prospective allies, alongside expensive defeats and unresolved disagreements on exchanges, stablecoins, and taxes.

Most winners already experienced

Of the 78 winners, 57 are returning to the same chamber, five are moving from the House to the Senate, and three are former members coming back. The 13 first-time entrants make up about one-sixth of the group. Much of the industry's successful electoral activity therefore preserved legislators with existing experience and positions.

Fifty of these candidates received no supportive general-election spending from the five committees: 47 were backed only in 2026 primaries or runoffs, and three only in 2025 special elections. Every first-time entrant received their support during a primary or runoff, with payments used for advertising and other election communications.

Newcomers could shift direction

Adrian Boafo and Jasmine Clark received the most support among the 13 first-time entrants: $5 million and $4 million respectively, all from Protect Progress during their primaries. Together, they accounted for 67% of the $14 million spent supporting this newcomer group.

Boafo succeeds Steny Hoyer in Maryland's 5th District, who voted against both the House's CLARITY market-structure bill and the GENIUS stablecoin bill in July 2025. Boafo arrives with state legislation behind him, including sponsoring Maryland's blockchain and digital-currency task force established by law in May.

Clark's documented campaign commitments include support for holding crypto in a personal wallet and for broad stablecoin availability. Her predecessor David Scott also voted against the crypto bills, suggesting both newcomers could change how their districts approach crypto legislation.

Ohio's costly defeat

The largest spending effort in the review ended with the committees' preferred candidate losing. Defend American Jobs and Digital Freedom Fund reported $40 million supporting Husted and $24 million opposing Brown in Ohio's Senate election. The combined $64 million accounted for about 38% of the five-PAC total.

This Ohio effort was almost as much as the approximately $64 million spent supporting all 78 eventual winners. Brown was one of seven candidates who won despite opposition spending from these crypto committees, demonstrating the industry's mixed electoral results despite significant spending.

Party split changes in Senate

The 78 winners divide evenly between the parties: 39 Democrats and 39 Republicans. However, their distribution across chambers is much less balanced. Seven of the eight Senate winners are Republicans, with Virginia's Mark Warner the only Democrat in that group.

In the House, Democrats account for 54.3% of the 70 supported winners, while Republicans make up 45.7%. Democrats' victory in both chambers changes who will control committees and bring legislation forward, though the bipartisan tally conceals how heavily the supported Senate roster leans toward the incoming minority.