Donald Trump won the US presidential election in November 2024, ushering in a new era for the United States.
However, with the midterm elections just seven months away, campaigning has already begun. Accordingly, large cryptocurrency companies are expanding their influence on politics through political fundraising groups.
According to recent news, Chainlink Labs and Anchorage Digital have joined the founding members of a political action committee (PAC) called the “Blockchain Leadership Fund” in the US.
Chainlink Labs, the developer of the blockchain oracle Chainlink (LINK), and institutional digital asset custody company Anchorage Digital have joined a US lobbying group called the Blockchain Leadership Fund (BLF) to promote more positive cryptocurrency and blockchain policies.
The group will operate as a “hybrid PAC,” allowing for both direct contributions to candidates and independent election spending (such as advertising). Neither company disclosed the amount of their contributions.
The formation of the Political Action Committee (PAC) comes ahead of the November 3rd midterm elections, and the election results are of great importance.
The results will determine which party will gain a majority in the US House of Representatives and the Senate, and are expected to directly influence the direction of legislation related to cryptocurrencies. This is because they closely follow the progress of important bills, including the stablecoin law “GENIUS” and the market structure law “CLARITY”.
At this point, Chainlink Labs stated that the industry needs organized support for candidates who support the CLARITY Act.
Anchorage co-founder and CEO Nathan McCauley said, “2026 will be a crucial year for cryptocurrency regulation. The choices we make now will shape the industry and American financial leadership for decades to come. That outcome will depend on who invests in the process and who steps up at key moments.”
As you may recall, in the 2024 US presidential and general elections, approximately 270 pro-crypto candidates won seats in Congress, and the political action committee called “Fairshake,” supported by Ripple and Coinbase, spent hundreds of millions of dollars to exert significant influence on the election races.
*This is not investment advice.