The crypto executives spending millions in the 2026 midterm cycle

A group of ultra-wealthy executives who made fortunes in or around cryptocurrency has contributed more than $56 million during the current US election cycle, according to a Reuters analysis of the most recently available Federal Election Commission filings. Their money has gone to crypto-friendly candidates and super PACs, but also to groups focused on technology, innovation, energy, taxation and economic growth.

The totals below cover the 2025-2026 cycle and include contributions to candidates, party committees, PACs and certain donations made through affiliated entities. They do not include gifts to dark-money political nonprofits, which are not required to disclose donors. Reuters also excluded routine transfers from joint fundraising committees to avoid double-counting. The figures are individual or affiliated-donor contributions, not the industry's broader election spending.

Cameron and Tyler Winklevoss

Gemini co-founders Cameron and Tyler Winklevoss have each contributed nearly $13 million, mostly to MAGA Inc., the main super PAC supporting President Donald Trump. Their venture-capital and family-office vehicle, Winklevoss Capital Fund, contributed $21.3 million to the Digital Freedom Fund, a super PAC spending this cycle against Democratic candidate and crypto skeptic Sherrod Brown in Ohio.

Chris Larsen

Ripple co-founder and executive chairman Chris Larsen has spent at least $14.6 million, mostly with Democratic-aligned and issue-focused groups. His giving included $6 million to the Invest in Tomorrow Coalition super PAC, which supports candidates favoring renewable energy, and $4.5 million to You Can Push Back PAC, focused on artificial-intelligence safety.

Brian Armstrong

Coinbase chief executive and co-founder Brian Armstrong has contributed roughly $1 million to federal candidates, party committees and PACs, distributing the money approximately evenly between the two parties. He also made five-figure donations to a range of congressional candidates from both parties.

Andreessen, Horowitz and other executives

Marc Andreessen gave $3 million to MAGA Inc. and roughly $719,000 in other contributions, mostly to Republican-leaning party committees, leadership PACs and candidates. Ben Horowitz also gave $3 million to MAGA Inc. and nearly $1 million to party committees and candidates, including almost $215,000 to the National Republican Senatorial Committee.

Mike Novogratz, founder and chief executive of Galaxy Digital, donated at least $1.9 million, mostly to Democratic-leaning and independent-expenditure groups. That included about $780,000 to Next Generation Action PAC, which focuses on younger Democratic candidates, and $250,000 to The Bench PAC.

Chris Dixon, a general partner at Andreessen Horowitz and founder of its crypto arm a16z crypto, donated roughly $867,000 across Republican and Democratic campaign committees, candidates, leadership PACs and crypto-related groups. Matt Huang, co-founder and managing partner at Paradigm, contributed at least $831,000, largely to Republican candidates and committees. Charles Cascarilla, co-founder and chief executive of Paxos, contributed roughly $642,000, with most supporting Republicans through the party's main committees and other PACs.

All the individuals named in the Reuters report either declined to comment or did not respond to requests for comment. The disclosures show how crypto wealth is entering politics through a mix of personal giving, affiliated entities and issue-oriented vehicles, while leaving undisclosed any donations routed through dark-money nonprofits.

Sources

• Reuters: Ultra-wealthy crypto executives who are spending big on midterms