Republican

2026

Wanchain

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<p>U.S. Senator Bernie Sanders has renewed his criticism of the crypto industry, placing digital asset groups alongside other well-funded political interests during a campaign event supporting Minnesota Lieutenant Governor Peggy Flanagan’s Senate bid.</p>
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   <li>Bernie Sanders pledged to challenge crypto while campaigning for Minnesota Senate candidate Peggy Flanagan publicly.</li>
   <li>Crypto-backed PACs have become major election spenders as lawmakers debate new digital asset regulation nationwide.</li>
   <li>Fairshake and allied groups continue deploying industry funds across closely watched congressional races in 2026.</li>
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<p>In a <a href="https://x.com/BernieSanders/status/2079373891995140562" rel="noopener noreferrer nofollow">July 21 post on X</a>, Sanders wrote, “Together, we are going to take on crypto, the AI industry, AIPAC and other billionaire super PACs.” He added that the campaign aimed to send Flanagan to the U.S. Senate. The comments focused on political spending and industry influence rather than cryptocurrency prices or blockchain technology.</p>
<p>Meanwhile, Sanders made the remarks while campaigning with Flanagan in Minneapolis. His statement grouped crypto with industries and political organizations that he says can use large financial resources to shape elections. He did not name a specific crypto company or political action committee in the post.</p>
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   <p>Thank you to a packed house in Minneapolis who came out to support <a href="https://x.com/peggyflanagan?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@peggyflanagan</a>. <br><br>Together, we are going to take on crypto, the AI industry, AIPAC and other billionaire super PACs and send Peggy to the United States Senate. <a href="https://t.co/j8VW091TkL" rel="noopener noreferrer nofollow">pic.twitter.com/j8VW091TkL</a></p>— Bernie Sanders (@BernieSanders) <a href="https://x.com/BernieSanders/status/2079373891995140562?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 21, 2026</a>
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<p>The timing comes as crypto-backed political groups spend heavily ahead of the 2026 midterm elections. As previously reported, Public Citizen <a href="https://crypto.news/ripple-backed-pacs-fuel-record-189m-election-spending/" rel="noopener noreferrer nofollow">estimated</a> that the crypto industry had contributed about $189 million during the current election cycle by late June. Ripple- and Coinbase-backed groups, including Fairshake, have remained among the largest sources of industry political funding.</p>
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<p>The spending has moved beyond national lobbying campaigns and into individual congressional races. Crypto.news reported in June that Fairshake-linked groups had <a href="https://crypto.news/crypto-pac-fairshake-deploys-8m-weapon-in-primary-fights/" rel="noopener noreferrer nofollow">deployed more than $8 million</a> ahead of several closely watched primaries in Maryland, New York and Utah.</p>
<p>Fairshake and its affiliated groups have generally backed candidates viewed as supportive of clearer digital asset rules. Major industry companies, including Ripple, Coinbase and Andreessen Horowitz, have provided funding to the broader network over recent election cycles.</p>
<h2 class="wp-block-heading" id="strong-crypto-pacs-become-a-larger-force-in-the-2026-elections-strong"><strong>Crypto PACs become a larger force in the 2026 elections</strong></h2>
<p>The industry’s political spending has already appeared in several election results. In Maryland, as crypto.news <a href="https://crypto.news/crypto-pac-backed-adrian-boafo-wins-maryland-democratic-primary/" rel="noopener noreferrer nofollow">reported</a>, Adrian Boafo won a Democratic primary after receiving support from crypto-linked political groups. Fairshake affiliates also spent in other Democratic contests where digital asset policy formed part of the wider campaign debate.</p>
<p>The same network has also backed Republican candidates. In Alabama, a Fairshake-linked PAC spent more than $12 million supporting Barry Moore during his Senate primary and runoff campaign, according to <a href="https://crypto.news/crypto-pac-backed-barry-moore-wins-alabama-gop-senate-runoff/" rel="noopener noreferrer nofollow">related coverage</a>. The activity shows that the groups have directed funding across party lines rather than limiting their spending to one political party.</p>
<p>Sanders’ latest remarks place him on the other side of that spending campaign. His criticism centers on the role of large political donors and corporate interests in elections. The July 20 statement did not call for a crypto ban or identify a new legislative proposal targeting digital assets.</p>
<p>Instead, Sanders framed crypto as one of several well-funded interests that Flanagan and her supporters would oppose. That distinction matters because his post focused on political influence rather than announcing a new position on individual cryptocurrencies, exchanges or blockchain networks.</p>
<h2 class="wp-block-heading" id="strong-sanders-has-maintained-pressure-on-crypto-policy-strong"><strong>Sanders has maintained pressure on crypto policy</strong></h2>
<p>The statement follows other recent moves by Sanders involving digital asset policy. In June, he joined Senator Elizabeth Warren and Representative Bobby Scott in asking the U.S. Labor Department to withdraw a proposal that could expand access to crypto and other alternative assets inside 401(k) retirement plans.</p>
<p>Moreover, the lawmakers <a href="https://crypto.news/democrats-push-labor-department-to-scrap-crypto-401k-proposal/" rel="noopener noreferrer nofollow">argued</a> that retirement savers could face volatility and weaker investor protections if plan providers added digital assets without enough safeguards. The Labor Department’s proposal would not require employers to offer crypto, but it would allow plan managers to consider alternative investments under existing fiduciary duties.</p>
<p>Sanders has also remained part of a wider group of lawmakers raising concerns about crypto regulation, investor protection and potential conflicts involving public officials. Those debates continue as Congress considers market structure rules and other legislation that could define how the U.S. treats digital asset companies.</p>
<p>At the same time, industry-backed political organizations have increased spending as those policy debates move through Congress. <a href="https://crypto.news/fairshake-ramps-up-election-spending-as-clarity-faces-deadline/" rel="noopener noreferrer nofollow">Previous crypto.news coverage</a> found that Fairshake affiliates had spent about $7 million on selected Democratic primary races while lawmakers continued negotiating the CLARITY Act.</p>
<h2 class="wp-block-heading" id="strong-minnesota-race-brings-crypto-politics-onto-the-campaign-stage-strong"><strong>Minnesota race brings crypto politics onto the campaign stage</strong></h2>
<p>Sanders’ support for Flanagan now brings that national fight over political money into Minnesota’s Senate race. His July 20 message did not provide details about what “take on crypto” would mean in legislative terms, leaving the phrase tied mainly to the campaign’s broader criticism of wealthy industries and super PAC spending.</p>
<p>Crypto-funded groups have not remained on the sidelines in 2026. Their spending has already reached congressional primaries, Senate races and wider efforts to support candidates who favor industry-backed regulatory policies. Critics such as Sanders continue to frame that activity as part of a broader fight over large donors and political influence.</p>
<p>The debate is likely to remain active as the U.S. moves closer to the midterm elections and Congress continues work on digital asset legislation. Fairshake and allied groups still have substantial resources available, while lawmakers who oppose parts of the crypto industry’s policy agenda are making campaign finance a larger part of their response.</p>
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Bernie Sanders vows to take on crypto ahead of 2026 elections

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