Millions of dollars in cryptocurrency are quietly rewriting the rules of Illinois politics, and most voters have no idea it is happening. Crypto industry executives have been influencing election campaigns with carefully timed donations, laying the groundwork for what has become the most aggressive crypto lobbying push the state has ever seen.
The Illinois elections are going to be held on March 17, 2026 (primary election), and November 3, 2026 (general election). Voters will elect officials for the U.S. Senate, the U.S. House, the Illinois governor, other statewide offices, and the state legislature.
Some of the biggest names in crypto and tech investing have formed a political fundraising group called Fairshake, and they are spending heavily to influence who gets elected in Illinois. Coinbase, Ripple, and the powerful Silicon Valley investment firm a16z are behind the group, which has already donated $8.6 million to Illinois congressional elections ahead of the 2026 midterm elections. To put the amount in perspective, they spent only a fraction of that in Illinois just two years ago.
Their biggest target? Juliana Stratton, Illinois’ current lieutenant governor, who is running for U.S. Senate from the Democratic Party. The group has spent over $5.5 million specifically to stop her from winning. According to some industry observers, Stratton is seen as likely to support stricter regulation of cryptocurrency, and organizations like Fairshake are backing candidates expected to keep crypto largely unregulated.
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A group connected to Fairshake called Protect Progress is spending money to help certain candidates win—including Nikki Budzinski and Robin Kelly, who are Illinois Democratic congresswomen. Budzinski has voted for major pro-crypto bills and supports minimal regulation of digital assets, and Kelly has no strong crypto stance but is considered a far safer choice for the industry than Stratton.
Small Checks, Big Strategy
The money trail began subtly. Throughout 2025, crypto executives—including billionaire Ben Horowitz and Solana blockchain co-creator Anatoly Yakovenko—made repeated $3,500 donations, the maximum allowed under Federal Election Commission rules, to campaigns such as that of U.S. Rep. Raja Krishnamoorthi, also a Democrat, who it seems is being seen as a more favorable candidate than Stratton regardless of his past positions on crypto.
Then came the television blitz. Fairshake’s late-February commercials attacking Stratton and implicitly boosting Krishnamoorthi sparked immediate backlash. Chicago Alderman Leni Manaa-Hoppenworth publicly demanded Krishnamoorthi denounce the spending, calling it “MAGA money.” His campaign declined to comment.
Stand With Crypto, an advocacy group closely linked to Coinbase, published candidate ratings and distributed questionnaires to congressional hopefuls. At least eight Illinois frontrunners completed the questionnaire in December, and all subsequently received the highest pro-crypto rating. At least five later received direct lobby support. Fairshake, sitting on $193 million in reserves, has pledged to oppose anti-crypto politicians nationwide throughout 2026.
For an industry that once operated in the shadows of Wall Street and Silicon Valley, this is a loud and deliberate declaration: crypto is now a political force, and it intends to pick winners.
