Within the next few hours, we will begin to learn whether President Donald Trump’s Republican Party has managed to retain control of the US Congress, determining his ability to advance his legislative agenda during the final two years of his term.
What the crypto industry needs to know:
- All 435 seats in the US House of Representatives and 35 Senate seats are up for grabs.
- Democrats need a net gain of four Senate seats and three House seats to take control of the respective chambers.
- The results could influence the future of US cryptocurrency regulation, including the stalled CLARITY Act, and potentially intensify scrutiny of Trump’s crypto ventures if Democrats gain control of either chamber.
- Crypto industry groups have spent approximately $176 million across more than 100 races during the 2026 election cycle, according to Reuters.
Live election updates
Follow the latest developments in congressional races attracting crypto industry spending, election results and reactions from prediction markets. Cointelegraph is using live election results data from the Associated Press. Updates appear in reverse chronological order.
Nov. 3 at 19:05 ET:
Democrat Warner retains Virginia Senate seat
Democratic Senator Mark Warner has won re-election in Virginia, defeating Republican challenger Bert Mizusawa. Warner was widely favored to win.
Warner voted against advancing the CLARITY Act in September, arguing that crypto legislation needs safeguards against President Donald Trump personally benefiting from the industry. Warner supports establishing federal rules for digital assets, with his opposition to the bill focused on its ethics protections.
Key crypto races to watch
The Blockchain Association’s election dashboard identifies 62 priority congressional races, including 18 Senate and 44 House contests, based on competitiveness, candidates’ crypto positions and membership on committees overseeing digital asset legislation.
Ohio Senate: Jon Husted vs Sherrod Brown
In Ohio, Republican Sen. Jon Husted faces Democrat Sherrod Brown, a longtime crypto critic, in a race that has attracted approximately $63 million in crypto industry spending. That includes about $56 million from Fairshake and $7 million from the Winklevoss-backed Digital Freedom Fund, with both groups spending to support Husted or oppose Brown.
Crypto advocacy group Stand With Crypto characterizes Brown as strongly opposed to cryptocurrency, citing 17 statements and his 2024 vote against overturning the SEC’s SAB 121 crypto custody accounting guidance.
Brown was also targeted by crypto industry spending in 2024, when Fairshake affiliate Defend American Jobs spent more than $40 million supporting Republican Bernie Moreno, who defeated Brown in that year’s Senate election.
Nebraska Senate: Pete Ricketts vs Dan Osborn
Republican Sen. Pete Ricketts faces independent challenger Dan Osborn in Nebraska, where crypto political action committee Fairshake had spent nearly $11 million supporting Ricketts, according to an Oct. 27 report by the Washington Examiner.
More recent spending data shows Fairshake-affiliated crypto super PAC Defend American Jobs spent approximately $13.5 million opposing Osborn, according to Federal Election Commission data compiled by Bankrolled as of Nov. 3.
Ricketts, a member of the Senate Banking Committee, has supported cryptocurrency legislation including the CLARITY Act and GENIUS Act. He voted to advance the CLARITY Act out of committee in May and supported an unsuccessful Senate procedural vote on the legislation in September, according to crypto advocacy group Stand With Crypto.
Texas Senate: Ken Paxton vs James Talarico
In Texas, Republican Ken Paxton faces Democrat James Talarico, with the Winklevoss-backed Digital Freedom Fund supporting Paxton, despite both candidates receiving A ratings from crypto advocacy group Stand With Crypto.
Paxton has called for the passage of the CLARITY Act, arguing that clear regulations are necessary to maintain US competitiveness in digital assets. In a June statement, he said the country must become the “crypto capital of the world” and support innovation and growth.
Talarico has similarly called for clear regulations that protect consumers while allowing innovation. As a Texas state representative, he also voted in 2025 to establish a state strategic Bitcoin reserve, according to legislative records cited by Stand With Crypto.
Wyoming Senate: Harriet Hageman vs James Byrd
In Wyoming, Republican Rep. Harriet Hageman faces Democrat James Byrd for the seat being vacated by Sen. Cynthia Lummis, a leading cryptocurrency advocate who is not seeking reelection.
Lummis, who chairs the Senate Banking Subcommittee on Digital Assets, sponsored the BITCOIN Act of 2025 to establish a US strategic Bitcoin reserve and has supported the CLARITY and GENIUS Acts.
Hageman has also backed cryptocurrency legislation, voting to pass the CLARITY and GENIUS Acts in 2025 and the FIT21 market structure bill in 2024. She also cosponsored legislation seeking to prohibit the Federal Reserve from issuing a central bank digital currency, according to Stand With Crypto. The advocacy group lists no documented position on cryptocurrency for Byrd.
Maine Senate: Troy Jackson vs Susan Collins
Maine senator Susan Collins was one of four Republicans to oppose advancing the CLARITY Act in September, expressing concerns over its impact on bank deposits. She now faces Democrat Troy Jackson to defend her seat.
Unlike Collins, Jackson has expressed support for clear cryptocurrency legislation in the run-up to the election. According to Stand with Crypto, which rates Jackson as “very pro crypto”, he called to end the debanking of “lawful crypto businesses, and ensure Americans’ right to self-custody digital assets.”
Crypto super PACs spend millions to influence Congress
Fairshake, backed by Coinbase, Ripple and Andreessen Horowitz, has led the spending through its affiliated super PACs, Defend American Jobs and Protect Progress. In early October, the group announced support for 32 incumbent House candidates, including 19 Republicans and 13 Democrats, all of whom voted in favor of the CLARITY Act in 2025.
Other crypto-aligned groups include the Digital Freedom Fund, backed by Tyler and Cameron Winklevoss, the twin co-founders of crypto exchange Gemini, and Fellowship PAC, which has supported candidates from both parties.
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