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Crypto, AI PACs Raise $103M, Face Voter Backlash

5/4/2026

Summary

PACs Face Backlash

Leading the Future raised $75 million and Fairshake spent $28 million (plus $40 million in 2024) for 2026 races, yet only 9 % and 3 % of voters know them.
A April 2026 poll of 2,035 found 45 % view crypto as risky, 44 % say AI is advancing too fast, two-thirds demand strict AI rules and half trust banks over crypto.
Analysts warn that visibility of these PACs could spark backlash against their candidates in battleground districts.

Summary

Murphy Warns

Senator Chris Murphy warned that Americans distrust crypto and fear AI firms could dominate culturally and economically.
Fairshake, a crypto super PAC funded by Coinbase, Andreessen Horowitz and Ripple, is spending $28 million on the election.
Leading the Future has raised over $75 million, making it a top AI-aligned spender for the 2026 midterms.
Polls show voters favor candidates who support stricter AI regulation, and more than half have never bought cryptocurrency.

Summary

AI Lobbyists Spend

Anthropic and OpenAI set quarterly lobbying records in Q1 2026, spending $1.6 million and $1 million respectively.
AI and crypto firms increased lobbying in Washington in Q1 2026, according to Axios.
Former NRSC executive Jason Thielman said crypto-aligned groups pursue bipartisanship and target champion legislators.
Industry leaders say a national framework is needed to prevent a patchwork of state laws that could harm AI and crypto competitiveness.

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PACs Face Backlash

Leading the Future raised $75 million and Fairshake spent $28 million (plus $40 million in 2024) for 2026 races, yet only 9 % and 3 % of voters know them.
A April 2026 poll of 2,035 found 45 % view crypto as risky, 44 % say AI is advancing too fast, two-thirds demand strict AI rules and half trust banks over crypto.
Analysts warn that visibility of these PACs could spark backlash against their candidates in battleground districts.

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