Digital Asset Industry Deploys Millions in Midterm Campaign Push

By EC Assets · Published 27 October 2026

The cryptocurrency sector is channeling $176 million into midterm election campaigns to support legislative allies as the industry prepares for a post-Trump era. The capital deployment comes after digital asset companies spent years and millions of dollars lobbying Washington lawmakers for regulatory frameworks. The sector previously viewed Donald Trump as its savior after he executed a heel-turn in favor of digital assets. Industry groups are now targeting midterm races to secure congressional allies and preserve regulatory progress. Donald Trump appeared on Wednesday surrounded by executives from Coinbase, Ripple, and other leading cryptocurrency companies to push for industry-backed legislation. During the appearance, Trump called on Congress to pass a key bill designed to lend greater support to digital assets. The legislative initiative aligns with long-term industry efforts to secure regulation that would more closely weave digital assets into the traditional financial system. To help push the cryptocurrency legislation across the line, Trump agreed to new ethics rules. Despite this agreement, questions remain over whether the ethics measures will be enough to satisfy lawmakers. The push unfolded as Trump's personal crypto business successfully snagged a key legislative bill, drawing additional scrutiny to his involvement in the sector. Trump has simultaneously lost favor with segments of cryptocurrency fans who have called him out for cashing in on the market. While the digital asset community initially rallied behind his public shift toward cryptocurrency, commercial ventures tied to his business have generated pushback among grassroots participants. The shifting sentiment among cryptocurrency followers reflects the complex reception to political involvement in digital assets. Carl Runefelt, a digital currency streamer known online as "the Moon," who commands 2.2 million followers on TikTok, noted that he does not follow politics but felt excitement the first time he heard a major politician engage with cryptocurrency. Trump had previously engaged the community directly when speaking at the Bitcoin Conference on July 27, 2024. His address and subsequent policy pivot helped position him as an ally to digital asset firms, leading directly to legislative pushes alongside Coinbase and Ripple leadership. Congressional movement on the industry-backed cryptocurrency bill and the impact of the newly agreed ethics rules will show whether legislative efforts succeed as the midterm elections approach. This article is intended for informational purposes only. It does not constitute investment advice.