defi ·
Crypto spends $176 million on midterms, but only 13% of voters prioritize crypto growth
A survey conducted by Ipsos for the DeFi Education Fund revealed that only 13% of American voters consider a candidate's backing of crypto growth to be very important.
This finding comes despite the industry allocating substantial funds toward the upcoming midterm elections.
The DeFi Education Fund characterized the findings as "bipartisan support for U.S. innovation." Regarding the narrower crypto question, there was minimal partisan divergence: 15% of Republicans and 13% of Democrats rated it very important.
Conversely, for the broader policy stance, approximately 35% indicated it was very important that candidates encourage the development of next-generation financial technology within the United States. Republicans led Democrats 45% to 30% on this top-ranked policy item.
The industry's financial outlay presents a contrasting picture. A Reuters review indicates that crypto entities have spent roughly $176 million across more than 100 midterm races this cycle. Super PAC Fairshake and its associated groups have contributed about $150.8 million up to October 20.
The survey polled 1,545 adults between September 8 and September 16 using Ipsos’ KnowledgePanel, which is the probability-based panel utilized by the Federal Reserve for its household finance survey. The margin of error for this poll was plus or minus 2.8 percentage points.
Voters appear to prioritize systemic stability over specific digital asset promotion. Sixty-three percent stated the financial system requires an upgrade to counter threats such as cybercrime and AI, while 49% believe government bodies should not dictate investment product availability.
This divergence between industry spending and voter priority underscores the current regulatory uncertainty facing DeFi and blockchain protocols. The industry's increased focus on electoral engagement follows the September Senate vote failure of the Clarity Act, which aimed to establish federal rules for crypto markets.
Why it matters
This disconnect shows that despite significant industry spending, the perceived political urgency for crypto and DeFi remains low among the electorate. This context is crucial as the industry navigates regulatory uncertainty following the failure of the Clarity Act. Readers should watch how this low voter prioritization impacts future lobbying efforts targeting federal policy.
