Cuomo says crypto's Republican spending alienated Democrats needed for CLARITY Act
In brief
- Andrew Cuomo told a Token2049 panel that crypto's Republican-heavy spending alienated Democrats.
- Tech Influence Watch tracked $54.3M from crypto PACs backing Republicans and $26.2M backing Democrats.
- Another $23.2M went to opposing Democrats, according to the tracker's figures as of Thursday.
- Kalshi priced Democrats' chance of winning both chambers at about 61% as of Thursday.
- Senate Democrats unanimously opposed advancing the CLARITY Act in a September procedural vote.
Spending tilted toward one party
Cuomo said the industry "believed in investing heavily in the Republican Party" as a way to get the CLARITY Act passed. The spending data shows that tilt. Crypto-focused PACs tracked by Tech Influence Watch have spent $54.3 million supporting Republicans in the 2026 election cycle, compared with $26.2 million supporting Democrats, based on figures checked on Thursday. Another $23.2 million went to opposing Democrats.
That's a lopsided ledger.
Fairshake, a crypto-focused PAC, isn't backing only one party, though. It said Monday it would support 32 House candidates in November's midterms (19 Republicans and 13 Democrats), Cointelegraph reported.
“You need Democrats to pass the bill. You need Republicans. You have to be more balanced.”
A Congress that might change hands
So why does the balance matter now? As of Thursday, a Kalshi prediction market priced the chance of Democrats winning both chambers of Congress at about 61%. Cuomo said a Democratic-controlled Congress could either try to roll back the agencies' crypto initiatives or work with the Trump administration to pass the full CLARITY Act.
Democrats aren't a single bloc
Cuomo disputed the idea that Democrats are inherently opposed to crypto. He argued the technology is suited to the party because it empowers people who don't have access to financial products.
The voting record is mixed. In July 2025, 78 House Democrats joined 216 Republicans to pass the CLARITY Act, while 134 Democrats voted against it. Separately, 18 Democratic senators backed the GENIUS Act, which passed the Senate in June 2025.
The Senate's been harder going. All Senate Democrats and four Republicans voted against advancing the CLARITY Act in a September procedural vote, and Cointelegraph reported that many of those concerns were tied to potential conflicts of interest involving Trump's crypto businesses. Seven Democratic senators later issued a joint statement reaffirming their commitment to passing the bill.
Republicans have been more united behind major crypto bills, but the legislation has drawn support from both parties (and that's the opening Cuomo says the industry has to work with).
Frequently asked questions
How much have crypto PACs spent on Republicans versus Democrats in the 2026 cycle?
Crypto-focused PACs tracked by Tech Influence Watch have spent $54.3 million supporting Republicans and $26.2 million supporting Democrats, based on figures checked on Thursday. Another $23.2 million was spent opposing Democrats.
How have Democrats voted on the CLARITY Act?
In July 2025, 78 House Democrats joined 216 Republicans to pass the CLARITY Act, while 134 Democrats voted against it. In a September Senate procedural vote, all Senate Democrats and four Republicans voted against advancing it. Seven Democratic senators later reaffirmed their commitment to passing the bill.
