Crypto’s $300 Million in Election Spending Meets a Tougher Washington as Bitcoin Rebounds From a Six-Week Low

The crypto industry has spent more than $300 million on campaigns across two election cycles, including about $176 million this year, Decrypt reported. After Democrats won both chambers of Congress, the industry faces a tougher legislative fight in Washington even as markets recover.

Bitcoin rebounded from a six-week low to $78,354 early on Wednesday, with ether rising to $2,323, Decrypt reported. The broader crypto market had lost about $300 billion over the past month, to roughly $2.67 trillion. Analysts quoted by Decrypt said the Democratic sweep was largely priced in, though the article named none of them.

The legislative picture has changed. The CLARITY Act, the market-structure bill, failed a Senate vote in September, and the new Congress takes office in January 2027. Unfinished bills lapse when the session ends, so the industry would have to restart the effort with Democrats in control of both chambers. Trump’s personal and family crypto ventures have been a point of conflict for Democrats, which could complicate negotiations further.

For the industry, the election result separates two questions. In the short term, clearing political uncertainty helped prices recover. In the longer term, passing a federal framework now depends on compromises with a party that has demanded tighter rules on officials’ crypto interests, and on how much of the campaign spending translates into influence.

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Sources:

• Decrypt: Bitcoin rebounds after Democratic midterm sweep, but crypto faces tougher fight in Washington