Political donations from the U.S. cryptocurrency industry have surged to $190 million ahead of the 2024 elections, a significant increase from the $15 million spent in 2020. This influx of funds is benefiting candidates from both major political parties, with crypto backers contributing nearly half (44%) of all corporate political spending, which totals $274 million so far this election cycle. A notable portion of this spending includes a $160 million initiative by cryptocurrency firms and executives aimed at supporting a bipartisan group of lawmakers favorable to the industry. Additionally, the crypto super PAC Fairshake plans to invest over $40 million in the final weeks of the election, having already allocated $140 million. Analysts suggest that this financial support could significantly influence the Senate's composition, potentially aiding Republican control.