Crypto Firms Double Down on US Election Influence via PACs

Crypto Firms Double Down on Influencing US Elections via PACs in 2026

In the lead-up to the 2026 US elections, crypto firms are increasingly leveraging Political Action Committees (PACs) to influence political outcomes. This strategic move comes as the crypto industry seeks to shape regulatory environments and gain a stronger foothold in the US market.

Sam Bankman-Fried's parents, Joseph Bankman and Barbara Fried, have reportedly explored avenues to secure a presidential pardon from Donald Trump for their son, who was sentenced to 25 years in prison for fraud related to the collapse of FTX. This effort signals a growing trend among high-profile white-collar criminals seeking clemency from the former president, who has shown a willingness to use his pardon power.

Meanwhile, South Dakota Representative Logan Manhart has proposed two Bitcoin Reserve bills, aiming to allocate 10% of the state's public funds to Bitcoin and exploring it as a hedge against inflation. This move aligns with a growing trend among US states to consider crypto assets as part of their financial strategies.

Illinois has also taken a significant step in integrating Bitcoin into its state finances by proposing a Strategic Bitcoin Reserve Fund bill. This initiative, led by State Representative John Cabello, seeks to create a framework for holding Bitcoin reserves in the state treasury, with strict guidelines for storage and handling.

The growing interest in crypto among US states and high-profile individuals reflects a broader shift towards digital assets as a potential cornerstone of financial planning. As the crypto industry continues to evolve, its influence on US politics and policy is set to become increasingly prominent.