AI and Crypto’s Election Spending Failed—and Spin Begins
WHO:
Gizmodo - Tech Influence Watch estimated crypto and AI companies and employees contributed more than $506 million to political committees during the election cycle; industry-focused PACs spent nearly $250 million on federal elections, including primaries.
Gizmodo - Transformer’s AI Campaign Finance Tracker put AI-focused super PAC spending at $72.3 million, including nearly $28 million from groups pushing for fewer AI regulations; Tech Influence Watch estimated AI super PAC spending at nearly $79 million.
Fast Company - New York City Councilman Chi Ossé described “Woke 2.0” as “more productive” and less focused on virtue signaling than “Woke 1.0.”
Fast Company - Rep. Hakeem Jeffries said he was “ready, willing, and able to find bipartisan common ground” with Republicans.
CNBC - Jaret Seiberg, TD Cowen’s Washington analyst, said Sherrod Brown’s Senate victory damaged the crypto industry’s political clout.
CNBC - Mike Townsend, Charles Schwab’s managing director of legislative and regulatory affairs, said Democrats would push for a version of the crypto market-structure bill that is “much tougher on cryptocurrency companies.”
The Lever - Adam Kovacevich, CEO of the Silicon Valley-funded Chamber of Progress, argued that the election was a referendum on Trump’s record and the economy rather than AI or data centers.
The Lever - Kovacevich said AI and data centers had become more salient to voters but were not among the top 15 voter priorities in most surveys he had seen.
The Lever - Senator Ed Markey said of potential investigations of Big Tech executives: “They are going to need to plant new forests for all of the subpoenas we’ll be printing.”
Gizmodo - Elon Musk contributed more than $470 million to political groups and backed Republican Ken Paxton in Texas’s Senate race against Democrat James Talarico.
Gizmodo - Democrats Sherrod Brown, Troy Jackson, Abdul El-Sayed, and Annie Andrews won Senate races; Republicans Jon Husted, Susan Collins, and Mike Rogers lost their races. Nebraska Republican Senator Pete Ricketts won reelection.
WHAT:
Gizmodo - Building the Future spent nearly $5 million backing Darlene Graham, who lost her South Carolina Senate race to Annie Andrews.
Gizmodo - The crypto industry’s three largest super PACs spent roughly $170 million on congressional races, according to CoinDesk; a Fairshake spokesperson said Fairshake and its affiliates accounted for $154 million.
CNBC - Crypto’s financial integration has reached a level that analysts said could be difficult to reverse; the industry’s future is increasingly focused on establishing crypto as financial infrastructure.
Fast Company - Online posts labeled a possible leftward cultural shift after the Democratic gains “Woke 3.0,” with jokes about AI posters, trans athletes, and adding pronouns for pets.
Fast Company - Rep. Alexandria Ocasio-Cortez urged Gen Z to embrace the “earnestness” of “millennial cringe,” comparing post-election optimism to the response to Barack Obama’s 2008 election.
CNBC - The crypto industry spent more than $200 million to influence the midterms, seeking support for comprehensive crypto market-structure legislation.
CNBC - Analysts said the Clarity Act was unlikely to advance over the next two years; the article said it could remain stalled until 2028.
CNBC - Seiberg said Democrats would investigate Trump’s crypto dealings, including World Liberty Financial.
CNBC - The article listed stablecoin innovation, decentralized finance, banking access, tokenization, and crypto tax policy as industry priorities.
CNBC - The article said financial regulators could advance the crypto industry through rule-making even if the Clarity Act remained stalled.
The Lever - Nationwide, voters opposed AI buildouts in 46 of 47 initiatives; 41 percent of planned data centers were in states that elected governors supporting pauses on development.
Gizmodo - Crypto- and AI-focused super PACs spent $112 million in the general election, according to Tech Influence Watch; $74.7 million went to losing candidates or efforts to defeat winners.
The Lever - Voters opposed AI buildouts in 46 of 47 initiatives. Forty-one percent of planned data centers were in states that elected governors who supported pausing development.
The Lever - NBC News’s exit poll found 56 percent of voters considered data centers a “crucial” or “major” factor in their voting decisions.
The Lever - Tech billionaires Musk, Marc Andreessen, and Ben Horowitz spent about $340 million combined on tech-friendly Republican candidates, many of whom lost.
The Lever - Voters restricted or banned data centers in 21 Ohio municipalities. Texas Governor-elect Gina Hinojosa advocated a moratorium until the legislature established “real protections” for residents.
Gizmodo - Crypto- and AI-focused super PACs spent $112 million in the general election; $74.7 million went to losing candidates or efforts to defeat winners.
Gizmodo - Crypto and AI companies and employees contributed over $506 million to political committees; industry-focused PACs spent nearly $250 million on federal elections, including primaries.
Gizmodo - AI-focused super PAC spending was reported as $72.3 million by Transformer’s tracker, including nearly $28 million from groups seeking fewer regulations; Tech Influence Watch estimated nearly $79 million.
Gizmodo - Crypto PACs spent roughly $170 million on congressional races. Fairshake and affiliates accounted for $154 million, according to a spokesperson.
Gizmodo - Talarico won about 55 percent of the vote. PACs and allied groups spent more than $64 million supporting Husted or opposing Brown; Senate Leadership Fund spent over $95.6 million and Musk’s America PAC spent $9.7 million opposing Brown.
Gizmodo - AI PACs spent more than $4.8 million supporting Darline Graham, who lost to Andrews; Senate Leadership Fund spent $13 million opposing Andrews.
Gizmodo - Pro-AI Alliance for a Better Future spent over $800,000 supporting Collins. Senate Leadership Fund spent $38.6 million and America PAC $2.3 million on her race.
Gizmodo - Crypto-focused First Principles Digital PAC and AI-focused Alliance for a Better Future spent nearly $1.9 million supporting Rogers; Senate Leadership Fund and America PAC spent $47 million and $9 million, respectively, on the Michigan race.
Gizmodo - Defend American Jobs PAC spent $13.5 million opposing Nebraska independent challenger Dan Osborn.
The Lever - OpenAI CEO Sam Altman said AI would change “the shape of jobs” and that “the entire structure of society will be up for debate and reconfiguration.” Pew Research Center found a majority of Americans thought AI would lead to fewer jobs.
WHERE:
Fast Company - One social-media post joked that trans athletes would swim in Washington’s Reflecting Pool.
The Lever - The cited contests and data-center measures included Ohio, Texas, and Nevada.
Gizmodo - The reported Senate races included Texas, Ohio, South Carolina, Maine, Michigan, and Nebraska.
WHY:
CNBC - Seiberg said scrutiny of Trump’s crypto entanglements could make it impossible to advance a version of the Clarity Act acceptable to the crypto sector.
The Lever - The Lever reported that Adam Kovacevich’s postelection messaging aimed to persuade newly empowered Democrats to focus potential oversight investigations on Trump rather than Big Tech and its support for his agenda.
The Lever - Tech-aligned groups funded campaigns against politicians challenging their agenda; Kovacevich said Democrats should understand voter priorities rather than let groups dictate them.
Gizmodo - Crypto and AI interests spent money to elect candidates they considered friendly to their industries.
HOW:
The Lever - Kovacevich circulated polling claims before most results were called and later published an analysis; The New York Times, The Information, and Politico amplified his message.
The Lever - Microsoft, Amazon, Meta, and Google were reported to be working with the Sierra Club, League of Conservation Voters, and Natural Resources Defense Council on a “common national framework for responsible data development.”
Gizmodo - The campaign spending occurred through super PACs, political committees, and industry-focused PACs.
(UPDATED November 6, 2026 03:00 UTC)
Crypto and AI interests poured hundreds of millions into elections, but many favored candidates lost. Voters also rejected data-center expansion in nearly every local ballot measure. Democrats’ gains could bring tougher crypto legislation and scrutiny of Trump’s dealings.
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(UPDATED November 5, 2026 23:05 UTC)
Democratic gains weakened crypto’s political influence despite major industry spending. Voters overwhelmingly rejected data-center initiatives, signaling resistance to AI buildouts. Democrats may pursue tougher crypto rules and investigate Trump’s crypto dealings.
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(UPDATED November 5, 2026 22:13 UTC)
Crypto and AI interests spent heavily on elections, but many candidates they backed lost. Sherrod Brown’s victory weakened crypto’s influence, while Democrats may pursue tougher market rules. Voters also rejected most data-center initiatives, signaling growing resistance to technology industry priorities.
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(UPDATED November 5, 2026 20:09 UTC)
Voters rejected AI and data-center expansion in 46 of 47 initiatives nationwide. Tech and crypto groups spent heavily backing industry-friendly candidates, many of whom lost. Democratic victories could bring renewed scrutiny of Big Tech.
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(UPDATED November 5, 2026 16:03 UTC)
Voters rejected data-center projects in 46 of 47 initiatives. Election outcomes centered on Trump and the economy, not technology, an industry advocate said. Crypto and AI groups spent heavily, but many favored candidates lost.