US Digital-Asset Industry Spent More Than $225 Million on Politics, but Senate Clarity Act Vote Slips

The US digital-asset industry has poured vast sums into Washington since President Donald Trump took office. Even so, a Senate vote on the Clarity Act, the industry's top legislative priority, has yet to happen.

The Financial Times reported on August 8 that the US digital-asset industry spent more than $185 million on election-related activity from January 2025 through June 2026. It also deployed more than $40 million to lobby Congress and the federal government, lifting total spending to more than $225 million.

The largest player was Fairshake, a digital-asset super PAC. It had raised about $140 million through June. Major US digital-asset companies, including Ripple Labs and Coinbase, support the group.

Individual companies also made sizable political contributions. Foris DAX, Crypto.com's US unit, donated $35 million to the MAGA super PAC. Gemini co-founders Cameron and Tyler Winklevoss gave $21.3 million to the Digital Freedom Fund and $10 million to MAGA.

Despite the industry's heavy spending, the Clarity Act did not clear the Senate. Republicans had planned to push for a vote in August, but Democratic opposition delayed it until September.

Earlier on August 8, Senate Majority Leader John Thune formally filed a Motion to Proceed on the Clarity Act. That is the first procedural step required before the Senate can begin floor consideration of the bill.