Major cryptocurrency companies have contributed more than $21 million to a political action committee supporting US President Donald Trump.
A Federal Election Commission filing showed Gemini Trust Company and Crypto.com parent Foris Dax made the largest crypto-linked donations.
The MAGA Inc. Super PAC reported receiving $1.5 million from Gemini and two $10 million contributions from Foris Dax.
The donations were made in September and October ahead of the 2026 US midterm election cycle.
Additional funding came from financial industry figures, including $1 million from a Shift4 executive and over $4 million from JPMorgan Chase.
The PAC’s total funds reportedly reached about $294 million following the latest contributions.
Although Trump is not seeking re-election in 2026, the funds can support candidates aligned with his agenda.
Control of all 435 House seats and 33 Senate seats will be contested in the midterms.
Several races could influence crypto policy, including a Massachusetts Senate bid by XRP legal advocate John Deaton.
Wyoming Senator Cynthia Lummis, a prominent pro-crypto voice, has announced she will not seek re-election in 2026.
Crypto-backed political spending played a significant role in the 2024 elections, including heavy funding in key Senate races.
A spokesperson for the Fairshake PAC previously said the group was maintaining aggressive spending ahead of the midterms.
At the time of reporting, XRP price was $2.37.