Crypto Industry Spends 226.6 Billion Won on Election Campaigns; Hammond Forecasts Expanded Oversight by 2027

US crypto industry spending in the midterm election cycle exceeded $170 million (about 226.6 billion won), with most of it funneled through Fairshake and affiliated political action committees, BlockTempo reported on the 2nd. More than $60 million (about 80 billion won) was spent by Fairshake and other PACs to block former Senator Sherrod Brown's return to office. However, the scale of political spending diverged sharply from voter priorities: in a May survey of 1,000 registered US voters, only 1% named crypto as the most important election issue, with cost of living, jobs, and the economy ranking far higher. The spending underscores the industry's effort to shape a regulatory environment ahead of an expected expansion of oversight in 2027 under Hammond's outlook. Watch next: whether Fairshake-backed candidates prevail and how the incoming Congress approaches crypto legislation.