Midterms US : Crypto Giants Bet Big on Trump

In recent years, the ties between Donald Trump and the crypto industry have intensified. But who really benefits from this political romance? At first glance, crypto companies court Trump with millions. Yet, the former president also seems to wield the codes and tokens with unsettling mastery. So, influence or manipulation? As the 2026 Midterms approach, this complex relationship could redraw the power lines in the United States.

Trump and the Millions in Crypto: Seduction or Planned Strategy?

Between September and October 2025, two crypto giants massively invested in the Super PAC MAGA Inc., an open supporter of Donald Trump. Gemini Trust Company contributed 1.5 million $ in USDC, while Foris Dax, the parent company of Crypto.com, contributed 20 million $ in two installments.

These astronomical amounts do not fall from the sky. They aim to influence the composition of the future Congress in favor of crypto-compatible elected officials. Trump’s PAC has thus accumulated a war chest of 294 million $, to be deployed in key electoral battles.

There are precedents: in 2024, 40 million $ were invested by pro-crypto groups to swing Ohio in the Senate. The strategy worked, strengthening the Republican majority.

A tweet from the Stand With Crypto collective summarizes it forcefully:

The most decisive moment for crypto in the United States is now.

Donations are therefore not just gestures of support: they are the expression of a war of influence fought with digital dollars.

Regulation: The Senate in Electoral Deadlock

As the debate on crypto regulation stalls, pressure mounts in the Senate. The “Market Structure” bill aims to clarify who — the SEC or the CFTC — will oversee various digital assets. But 2026 is an election year, and negotiations drag on.

Senator Thom Tillis bluntly summarized it: it must pass in the first quarter, otherwise it falls into election season promises. The reality is that no side wants to upset financial lobbies, from the crypto-sphere to big banks.

In response to crypto donations, Wall Street is organizing. A new group, American Growth Alliance, has been created. Its goal: to influence legislative debate by injecting “tens of millions of dollars” to defend its economic priorities.

But alliances are becoming blurred. Even Republican senators, traditionally pro-business, are slowing negotiations. Cynthia Lummis, a fervent sector ally, highlights this ambivalence:

In my opinion, it has always been a nonpartisan issue. But in the world of political contributions, this industry shows its willingness to support both sides. And that is a powerful incentive for politicians to tread carefully. 

Crypto no longer wants to wait. And Trump knows it.

Midterms 2026: Trump Bets on Crypto-Friendly Soldiers

Even without an official candidacy, Trump remains omnipresent. His goal? To win the 2026 Midterms by supporting profiles aligned with his vision… and that of the crypto-sphere.

Among his protégés is John Deaton, a pro-XRP lawyer, now a Senate candidate in Massachusetts. Known for his attacks against the SEC, he is seen as a crypto-compatible figurehead.

Another issue: the announced departure of Cynthia Lummis, senator from Wyoming. A leading figure in the fight for fair crypto regulation, her seat attracts the covetousness of both camps, each trying to position a profile favorable to its interests.

Trump, for his part, nurtures his alliances. Crypto.com strengthens its ties with Trump Media through a digital treasury strategy, consolidating bridges between political communication and digital economy.

Meanwhile, PACs like Fairshake and its affiliates continue their local actions, particularly in Virginia and Florida.

Key Takeaways in 5 Points

• 21 million $: contributed by Gemini and Foris Dax to MAGA Inc. over two months;
• 294 million $: pro-Trump electoral war chest;
• 140 million $: already committed by Fairshake since 2022;
• 40 million $: invested in 2024 to swing Ohio;
• 1 banking group, American Growth Alliance, to counter crypto influence.
  

After successfully taking control of Venezuela’s oil resources following Maduro’s fall, is Trump now extending his power to the digital economy? Just months before the Midterms, American voters will have to decide whether to reaffirm their trust in a leader who controls both oil wells and digital finance channels.