THE STREET · 2026-10-29 16:06 UTC

Elon Musk, crypto just placed huge midterm bets, and traders should pay attention

Elon Musk donated $446 million to Republican-aligned groups ahead of midterm elections, making him the largest individual donor; crypto companies Coinbase, Ripple, and Crypto.com collectively gave over $146 million. Republican-aligned groups received about 60% of top 50 contributors' $2.77 billion in total spending, while Democratic groups received 30%. Crypto industry's regulatory priorities like the CLARITY Act failed in Senate; if Democrats gain control, crypto-critical lawmakers could influence financial committees and make new crypto regulations harder to pass.

Loading the story on Tree News…