Oct 27 (Reuters) – A clutch of ultra-wealthy executives who made fortunes in and around the cryptocurrency business have become influential players in US politics, collectively spending more than $56 million during the current election cycle so far, according to a Reuters analysis of federal filings.
They have spent on crypto-friendly candidates and crypto super political action committees, or PACs, that can raise and spend unlimited sums, contributing towards the industry’s $175 million blitz this cycle, according to federal filings.
However, a large chunk of the spending extends beyond digital assets to candidates and fundraising vehicles aligned with their views on issues ranging from technology, innovation and energy policy, to taxation and economic growth.
Below are the crypto executives who have spent at least $500,000 on the 2025-2026 cycle, according to the most recently available Federal Election Commission filings.
Totals include contributions to candidates, party committees and PACs, and certain donations made through affiliated entities. They do not include donations to “dark money” political nonprofits, which are not required to disclose donors.
Reuters excluded routine transfers from joint fundraising committees to avoid double-counting.
All the individuals named below either declined to comment or did not respond to requests for comment.
CAMERON AND TYLER WINKLEVOSS, CO-FOUNDERS OF GEMINI SPACE STATION
Crypto entrepreneurs Cameron and Tyler Winklevoss have contributed nearly $13 million each this cycle, mostly to MAGA Inc, the main super PAC supporting President Donald Trump.
The twins are also the primary backers of the Digital Freedom Fund (DFF), a super PAC that has been spending this cycle to oppose Democratic candidate and crypto skeptic Sherrod Brown, who is running for a US Senate seat in Ohio.
Winklevoss Capital Fund, the twins’ venture capital and family office, contributed $21.3 million to DFF this cycle.
BRIAN ARMSTRONG, CEO AND CO-FOUNDER OF COINBASE
Armstrong, one of the crypto industry’s most high-profile advocates, has contributed roughly $1 million to federal candidates, party committees and PACs, dishing the cash out roughly evenly to both parties. He also made five-figure donations to an array of congressional candidates on both sides of the aisle.
CHRIS LARSEN, CO-FOUNDER AND EXECUTIVE CHAIRMAN OF RIPPLE LABS
Larsen, a co-founder of blockchain payments firm Ripple Labs, has spent at least $14.6 million this cycle, mostly on Democratic-aligned and issue-focused groups. That included a $6 million donation to the Invest in Tomorrow Coalition super PAC, which backs candidates supportive of renewable energy. He also donated $4.5 million to You Can Push Back PAC, which focuses on artificial intelligence safety.
MARC ANDREESSEN AND BEN HOROWITZ, CO-FOUNDERS AND GENERAL PARTNERS OF ANDREESSEN HOROWITZ
Andreessen and Horowitz’s eponymous venture capital firm has made major investments in crypto companies, including Coinbase, as well as AI companies.
Andreessen gave $3 million to MAGA Inc and roughly $719,000 in other contributions to mostly Republican-leaning party committees, leadership PACs and candidates.
Horowitz also contributed $3 million to MAGA Inc and nearly $1 million to party committees and candidates, including almost $215,000 to the National Republican Senatorial Committee.
MIKE NOVOGRATZ, CEO AND FOUNDER OF GALAXY DIGITAL
An early bitcoin investor and champion of the cryptocurrency, Novogratz has donated at least $1.9 million this cycle, mostly to Democratic-leaning and independent expenditure groups. That includes about $780,000 to Next Generation Action PAC, which focuses on electing younger Democratic candidates, and $250,000 to The Bench PAC, another Democratic-aligned group.
CHRIS DIXON, GENERAL PARTNER AT ANDREESSEN HOROWITZ
Dixon, the founder of Andreessen Horowitz’s dedicated crypto and blockchain venture arm a16z crypto, has donated roughly $867,000 across Republican and Democratic campaign committees, candidates, leadership PACs and crypto-related groups.
MATT HUANG, CO-FOUNDER AND MANAGING PARTNER AT PARADIGM
Huang, co-founder of crypto and AI-focused investment firm Paradigm, has contributed at least $831,000, largely to Republican candidates and committees.
CHARLES CASCARILLA, CEO AND CO-FOUNDER OF PAXOS
Cascarilla, CEO of stablecoin and blockchain infrastructure firm Paxos, has contributed roughly $642,000, with the majority supporting Republican candidates via the party’s main committees and other PACs.
(Reporting by Hannah Lang in New York; editing by Michelle Price and David Gaffen)
