Ripple CEO Defends Crypto Election Wins After 2026 Midterms

By Daniel Okafor

Industry-linked political groups spent about $176 million across more than 100 congressional races by late October, with Fairshake and its affiliates responsible for most of the spending, according to Crypto.news. Fairshake won 29 of 34 decided races, according to Reuters’ November 4 report, including contests involving lawmakers who support the industry’s legislative priorities.

Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty argued on November 5 that the results showed political gains for the cryptocurrency industry, despite defeats for candidates backed by crypto political committees.

The November 3 elections gave Democrats control of the legislative agenda for the remaining two years of President Donald Trump’s term, a major setback for Republicans.

In a November 5 post on X, Garlinghouse said lawmakers who support digital assets had won seats on both sides of the political divide and that the industry’s priorities would remain unchanged under the new Congress. “New Congress, with the same mission: clear rules, built in America,” he wrote.

He also cited an estimated 67 million U.S. cryptocurrency users, saying they were “not going anywhere.” Alderoty made a similar adoption argument, citing more than 67 million Americans who use digital assets for personal finances, business activities and payments.

How did crypto-backed candidates perform?

Alderoty, in a longer November 5 statement, said the results were more favorable for the industry than some headlines suggested. He credited Fairshake with meaningful results in both the primaries and the general election.

Early data from Stand With Crypto showed a substantial number of crypto-friendly lawmakers winning seats across party lines. Alderoty credited years of political engagement by grassroots advocates and industry organizations with building relationships with lawmakers.

Fairshake, a political action committee supported by Ripple, Coinbase and venture capital firm Andreessen Horowitz, backed Republican Andy Barr, who secured a Senate seat in Kentucky after industry support in his primary. Several Democratic candidates backed by Fairshake also advanced to Congress.

In Nebraska, Republican Senator Pete Ricketts defeated independent challenger Dan Osborn following substantial spending by crypto-backed groups.

The biggest setback came in Ohio, where Democratic candidate Sherrod Brown defeated Republican Senator Jon Husted. More than $60 million in spending by cryptocurrency-backed political committees sought to prevent Brown’s return to the Senate. Brown, a longtime industry critic, had lost his seat in 2024 after another expensive campaign involving crypto-backed groups.

Which incumbents did Fairshake target?

Fairshake’s House campaign initially targeted 32 incumbents: 19 Republicans and 13 Democrats who had supported the CLARITY Act. Its bipartisan slate included House Financial Services Committee Chairman French Hill and lawmakers Bryan Steil and Bill Huizenga, who subsequently lost their reelection bids.

What changes under Democratic control?

Democrats’ control of both chambers sets up negotiations with lawmakers who have expressed concerns about consumer protection, financial oversight and the industry’s political influence. Newly elected representatives will matter as Congress and the administration continue discussions over digital-asset regulation and technology policy, Alderoty said.

The industry’s main legislative priority, the CLARITY Act, seeks to establish federal rules for cryptocurrency markets and clarify regulatory responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission.

A September Senate vote on a motion to begin debate ended 49 to 50. That procedural defeat left the market-structure legislation stalled before the midterms despite extensive lobbying and political spending by cryptocurrency companies.

Despite the mixed results, Alderoty said Ripple would continue working with both parties to establish federal rules for digital assets. He described the regulatory effort as a long-term project extending beyond any election cycle. Ripple will maintain political engagement through super PACs, other advocacy organizations and educational initiatives involving nonprofits such as the National Cryptocurrency Association.

Alderoty said adoption had continued beyond Washington, pointing to banks and businesses increasingly adopting cryptocurrency services. Fairshake has indicated plans to remain active in the 2028 election cycle, with approximately $56 million reportedly available for future campaigns, while industry political organizations intend to maintain their involvement in future elections.

With Democrats now controlling both chambers, the next legislative test is whether renewed negotiations can revive the CLARITY Act after its 49-to-50 procedural defeat in September.