Crypto’s heavy backing of Republicans alienated Democrats: Cuomo
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Written by
Simonas Brazionis - Updated 2026-10-11 18:36:09
Former New York Governor Andrew Cuomo has stated that Crypto’s heavy backing of Republicans has alienated Democrats, whose support is crucial for the passage of federal crypto legislation. Cuomo made these comments during a panel discussion at Token2049, highlighting the industry's heavy investment in the Republican Party to advance the CLARITY Act.
Political Donations and Congressional Dynamics
Data from Tech Influence Watch reveals that crypto-focused political action committees have allocated $54.3 million to support Republicans for the 2026 election cycle, compared to $26.2 million directed towards Democrats. An additional $23.2 million was spent opposing Democrats. Cuomo noted that such substantial investment in one party inevitably alienates the other, complicating bipartisan cooperation.
A Kalshi prediction market indicated a 61% probability of Democrats securing both chambers of Congress. Cuomo suggested that a Democratic-controlled Congress might either seek to reverse existing crypto initiatives from regulatory agencies or collaborate with a Trump administration to enact the full CLARITY Act, underscoring the need for bipartisan support for legislative success.
Bipartisan Challenges and Legislative Efforts
Cuomo challenged the perception that Democrats are inherently anti-crypto, arguing that the technology aligns with Democratic principles by empowering individuals who lack access to traditional financial products. While crypto legislation has garnered bipartisan interest, Republicans have demonstrated greater unity on major bills. The CLARITY Act passed the House in July 2025 with support from 78 Democrats and 216 Republicans, despite 134 Democrats voting against it.
A September procedural vote saw all Senate Democrats and four Republicans vote against advancing the CLARITY Act, partly due to concerns regarding potential conflicts of interest related to Trump’s crypto ventures. However, seven Democratic senators later issued a joint statement affirming their commitment to the bill. Fairshake, a crypto-focused PAC, announced its support for 32 House candidates in the upcoming midterm elections, comprising 19 Republicans and 13 Democrats.
