Crypto spent $176M on the midterms. Can it move the CLARITY Act?

Crypto-linked political groups have spent roughly $176 million across more than 100 U.S. midterm races, according to a Reuters review of campaign-finance filings through October 20. Fairshake and its affiliates account for about $150.8 million. The spending may help elect lawmakers sympathetic to digital assets, but the CLARITY Act’s last Senate hurdle was a 49-to-50 vote on whether to begin debate, eleven votes short of the usual threshold. The Reuters investigation says the industry’s effort is designed to establish support that outlasts any one administration. That long view makes sense for a law meant to govern digital assets for years. It also raises a concrete test after November 3: how many new lawmakers, in which chamber, will back a text that can clear a procedural vote?

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