Brad Garlinghouse, the CEO of Ripple, has voiced support for the cryptocurrency sector’s political presence following the 2026 midterm elections in the United States. He noted that candidates advocating for cryptocurrency found success across both political parties, even as Democrats retained control over Congress.
Summary
- Garlinghouse emphasized that pro-crypto candidates achieved victories from both political parties, despite some setbacks for industry-supported campaigns.
- Ripple’s Chief Legal Officer, Stuart Alderoty, also defended the election outcomes, citing successful outcomes in both primaries and general elections.
- Fairshake reportedly triumphed in 29 out of 34 races that were decided, although several candidates sponsored by crypto political committees faced costly defeats.
- Ripple’s leadership stated that they would persist in collaborating with lawmakers across the aisle to create distinct federal guidelines for digital assets.
- Alderoty affirmed that political interaction via super PACs, advocacy organizations, and educational efforts would continue to be a key part of the industry’s strategy.
In a post on X on November 5, Garlinghouse stated that legislators backing digital assets had secured positions regardless of party affiliation, and affirmed that the industry’s objectives would remain constant with the arrival of the new Congress.
“New Congress, same mission: clear regulations, crafted in America,” he expressed, highlighting that the estimated 67 million cryptocurrency users in the country remained steadfast.
His remarks came on the heels of a more extensive statement from Ripple’s Chief Legal Officer, Stuart Alderoty, who maintained that the industry’s electoral outcomes were more favorable than some media reports suggested, even with notable defeats for crypto-aligned candidates.
Ripple Executives Support Crypto Election Outcomes Following Democratic Gains
The midterm elections on November 3 resulted in the Democrats regaining control of both the House of Representatives and the Senate, granting the party authority over the legislative agenda for the last two years of President Donald Trump’s term.
While the outcomes indicated a significant setback for Republicans, Alderoty noted that the performance of the cryptocurrency sector needed to be evaluated independently from the overall political results.
In his statement on November 5, the Ripple executive recognized that some analysts would frame the election as a negative for crypto but contended that the outcomes were more nuanced.
He referred to the achievements of Fairshake, a crypto-oriented political action committee supported by firms such as Ripple, Coinbase, and the venture capital group Andreessen Horowitz.
Alderoty pointed out that Fairshake had made substantial headway in both the primary and general election, while early insights from advocacy group Stand With Crypto revealed that numerous crypto-friendly legislators had gained positions across party lines.
The executive credited years of grassroots advocacy and industry organization efforts for nurturing crucial relationships with lawmakers.
He emphasized that the newly elected officials would play vital roles as discussions on digital asset regulations and tech policies continue in Congress and the administration.
Fairshake Achieves Wins Amid Costly Losses
The remarks followed an election cycle during which cryptocurrency enterprises invested significant resources in congressional races to garner support for digital asset legislation.
As noted by crypto.news, political groups connected to the industry had expended around $176 million across more than 100 congressional races by late October, with Fairshake and its affiliates driving much of this expenditure.
The campaign yielded mixed results.
According to Reuters, Fairshake won 29 out of 34 races that had been decided at the time of its November 4 report, which included several races involving lawmakers who backed the industry’s legislative goals.
A notable success occurred in Nebraska, where Republican Senator Pete Ricketts emerged victorious over independent candidate Dan Osborn, supported by considerable contributions from crypto-backed organizations.
Republican Andy Barr also secured a Senate seat in Kentucky following endorsements from industry supporters during his primary run, while several Democratic candidates backed by Fairshake advanced to Congress.
The most significant setback transpired in Ohio, where Democratic candidate Sherrod Brown defeated Republican Senator Jon Husted, despite over $60 million spent by cryptocurrency-supported political committees attempting to exclude Brown from returning to the Senate.
Brown, who has long criticized the crypto sector, had previously lost his Senate seat in 2024 amid another costly campaign involving crypto-aligned political action groups.
Fairshake’s House initiatives initially targeted 32 incumbents, including 19 Republicans and 13 Democrats who had shown support for the CLARITY Act.
This bipartisan candidate selection featured House Financial Services Committee Chairman French Hill, alongside lawmakers such as Bryan Steil and Bill Huizenga, who later lost their reelection campaigns.
Ripple Continues Advocacy for Crypto Regulation and Political Engagement
In spite of the mixed results from the elections, Alderoty reaffirmed Ripple’s commitment to collaborating with both political factions to develop federal rules for digital assets.
The firm continues to engage in political activities through super PACs, various advocacy groups, and educational projects working with nonprofits like the National Cryptocurrency Association.
He described the regulatory mission as a long-term endeavor that would persist beyond any single election timeframe.
The primary legislative focus remains the CLARITY Act, designed to establish federal guidelines for cryptocurrency markets and clarify the regulatory roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission.
This legislation faced a significant hurdle in September when the Senate could not advance a motion to begin discussion, resulting in a procedural vote of 49 to 50.
The failed Senate vote left the market structure legislation halted ahead of the midterm elections, despite extensive lobbying and financial efforts from cryptocurrency firms.
With Democrats set to lead both chambers, future negotiations will include lawmakers who have previously expressed concerns regarding consumer protection, financial oversight, and the perceived political sway of the industry.
Alderoty underscored that cryptocurrency adoption has continued to thrive outside of Washington, citing over 67 million Americans using digital assets for various financial activities.
He noted the increasing incorporation of cryptocurrency services by banks and businesses, and stated that political organizations within the industry are committed to staying engaged in forthcoming elections.
Fairshake has already indicated plans to remain active in the 2028 election cycle, with an estimated $56 million in funds reportedly earmarked for future political campaigns.