Crypto Emerges as Major Donor Ahead of US Midterms; Coinbase Gives $57.8 Million, Ripple $49.6 Million
Summary
- Political donations from the cryptocurrency industry rose sharply, with Coinbase giving about $57.8 million to rank 12th among all donors.
- Ripple donated about $49.6 million, placing 17th overall, while the Winklevoss twins, co-founders of Gemini, gave a combined $55.9 million.
- Total donations from the top 50 donors were estimated at about $2.77 billion, including roughly $1.67 billion for Republican-leaning causes and about $832 million for Democratic-leaning causes.
Forecast Trend Report by Period
Political donations from the cryptocurrency industry have surged ahead of the U.S. midterm elections.
Crypto-focused media outlet Odaily reported on October 27 that Coinbase donated about $57.8 million during the 2026 midterm election cycle, ranking 12th among all donors. Among companies and organizations, it ranked fifth.
Ripple donated about $49.6 million, placing 17th overall. Cameron and Tyler Winklevoss, the co-founders of Gemini, donated a combined $55.9 million, while crypto firm Foris DAX contributed $39 million.
Total donations from the top 50 donors came to about $2.77 billion. Of that amount, roughly $1.67 billion went to Republican-leaning causes and about $832 million to Democratic-leaning causes.
Among individual donors, Elon Musk gave the most at about $446 million. Most of the money went to Super PACs and affiliated groups supporting Republican candidates.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.