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

The US digital-asset industry spent astronomical sums on Washington lobbying after President Donald Trump took office. Even so, a Senate vote on the Clarity Act, the industry's top legislative priority, failed to materialize.

The industry spent more than $185 million on election-related activity from January 2025 through June 2026, the Financial Times reported on August 8. It also spent more than $40 million lobbying Congress and the federal government, taking total political spending to more than $225 million.

The largest vehicle was digital-asset super PAC Fairshake, which had raised about $140 million through June. Major US digital-asset companies including Ripple Labs and Coinbase have backed the group.

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

Despite the scale of the spending, the Clarity Act has yet to clear the Senate. Republicans had planned to hold 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. The filing is the first procedural step required before the Senate can consider the bill on the floor.