Ripple CEO Brad Garlinghouse has defended the cryptocurrency industry’s political standing following the 2026 US midterm elections, saying pro-crypto candidates secured victories across both parties despite Democrats winning control of Congress.
Summary
- Ripple CEO Brad Garlinghouse said pro crypto candidates secured victories across both parties in the US midterm elections despite setbacks for industry backed campaigns.
- Ripple Chief Legal Officer Stuart Alderoty defended Fairshake’s election performance, citing wins in both the primaries and general election.
- Fairshake reportedly won 29 of 34 decided races, although several candidates backed by crypto political committees suffered expensive defeats.
- Ripple executives said the industry would continue working with lawmakers from both parties to establish clear federal rules for digital assets.
- Alderoty confirmed that political engagement through super PACs, advocacy groups and crypto education initiatives would remain part of the industry’s strategy.
In a November 5 post on X, Garlinghouse said lawmakers who support digital assets had won seats on both sides of the political divide and that the industry’s priorities would remain unchanged under the new Congress.
“New Congress, with the same mission: clear rules, built in America,” he wrote, adding that the country’s estimated 67 million cryptocurrency users were not going anywhere.
His comments followed a longer statement from Ripple Chief Legal Officer Stuart Alderoty, who argued that the election results were more favorable for the industry than some headlines suggested, despite several expensive defeats for crypto-backed candidates.
Ripple executives defend crypto election results after Democratic victories
The November 3 midterm elections saw Democrats regain control of both the House of Representatives and the Senate, giving the party control of the legislative agenda during the remaining two years of President Donald Trump’s term.
Although the results represented a major defeat for Republicans, Alderoty said the cryptocurrency industry’s electoral performance needed to be judged separately from the outcome for either political party.
In his November 5 statement, the Ripple executive acknowledged that some observers would describe the election as a setback for crypto but argued that the results were more complicated.
He pointed to victories secured by Fairshake, the crypto-backed political action committee supported by companies including Ripple, Coinbase and venture capital firm Andreessen Horowitz.
According to Alderoty, Fairshake had achieved meaningful results during both the primary elections and the general election, while early data from advocacy group Stand With Crypto showed that a substantial number of crypto-friendly lawmakers had won seats across party lines.
The executive credited years of political engagement by grassroots advocates and industry organizations for helping build relationships with lawmakers.
He said the newly elected representatives would be important partners as Congress and the administration continued discussions over digital asset regulations and technology policy.
Fairshake wins several races but suffers costly defeats
The statements followed an election cycle in which cryptocurrency companies committed substantial funds to congressional races in an effort to secure support for digital asset legislation.
As previously reported by crypto.news, industry-linked political groups had spent approximately $176 million across more than 100 congressional races by late October, with Fairshake and its affiliates responsible for most of that spending.
The campaign produced mixed results.
According to Reuters, Fairshake had won 29 of the 34 races decided at the time of its November 4 report, including several contests involving lawmakers who supported the industry’s legislative priorities.
One of its successes came in Nebraska, where Republican Senator Pete Ricketts defeated independent challenger Dan Osborn following substantial spending by crypto-backed groups.
Republican Andy Barr secured a Senate seat in Kentucky after receiving industry support during his primary campaign, while several Democratic candidates backed by Fairshake advanced to Congress.
The biggest setback came in Ohio, where Democratic candidate Sherrod Brown defeated Republican Senator Jon Husted despite more than $60 million in spending by cryptocurrency-backed political committees seeking to prevent Brown’s return to the Senate.
Brown, a longtime critic of the industry, had previously lost his Senate seat in 2024 following another expensive campaign involving crypto-backed political groups.
Fairshake’s House campaign had initially targeted 32 incumbents, including 19 Republicans and 13 Democrats who had supported the CLARITY Act.
The bipartisan candidate selection included House Financial Services Committee Chairman French Hill, alongside lawmakers such as Bryan Steil and Bill Huizenga, who subsequently lost their reelection bids.
Ripple maintains support for crypto regulation and political spending
Despite the mixed election results, Alderoty said Ripple would continue working with both political parties to establish federal rules governing digital assets.
The company remains committed to political engagement through super PACs, other advocacy organizations and educational initiatives involving nonprofits such as the National Cryptocurrency Association.
He described the regulatory effort as a long-term project that would continue beyond any individual election cycle.
The industry’s main legislative priority has been the CLARITY Act, which seeks to establish federal rules for cryptocurrency markets and clarify regulatory responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
The legislation encountered a major obstacle in September when the Senate failed to advance a motion to begin debate, with the procedural vote ending 49 to 50.
The failed Senate vote left the market structure legislation stalled before the midterm elections, despite extensive lobbying and political spending by cryptocurrency companies.
With Democrats preparing to take control of both chambers, future negotiations will involve lawmakers who have previously expressed concerns about consumer protection, financial oversight and the industry’s political influence.
Alderoty maintained that cryptocurrency adoption had continued beyond Washington, citing more than 67 million Americans who use digital assets for personal finances, business activities and payments.
He said banks and businesses were increasingly adopting cryptocurrency services, while the industry’s political organizations intended to maintain their involvement in future elections.
Fairshake has already indicated that it plans to remain active in the 2028 election cycle, with approximately $56 million in funds reportedly available for future political campaigns.
