Crypto Spends $176 Million on Midterms, But Only 13% of Voters See It as a Priority

A survey by Ipsos for the DeFi Education Fund found that only 13% of Americans consider a candidate's support for crypto growth very important. This comes as the industry is spending heavily on the upcoming midterm elections.

The survey polled 1,545 adults between Sept. 8 and 16 using Ipsos’ KnowledgePanel. The margin of error was plus or minus 2.8 percentage points.

A broader policy pitch ranked highest, with roughly 35% stating it is very important that candidates encourage U.S. builders of next-generation financial technology. Republicans led Democrats on this item with 45% versus 30%.

Regarding crypto specifically, 15% of Republicans and 13% of Democrats rated candidate support for emerging financial technologies like blockchain, crypto, and decentralized finance as very important.

In contrast, a Reuters review shows the crypto industry has allocated approximately $176 million across more than 100 midterm races this cycle. Super PAC Fairshake and its affiliates have spent about $150.8 million through Oct. 20.

One Fairshake affiliate has disclosed spending exceeding $46 million in the Senate race against former Sen. Sherrod Brown in Ohio.

The industry's spending contrasts with voter priorities, as 63% believe the financial system requires an upgrade to counter threats such as AI and cybercrime. Additionally, 49% feel the government should not dictate permissible investment products.