Political groups related to the cryptocurrency industry have reserved nearly $180 million for the U.S. midterm elections

According to Bloomberg, political groups associated with the cryptocurrency industry have accumulated nearly $180 million in funding reserves ahead of this year's U.S. midterm elections, surpassing the funding levels of some major Republican super PACs.

The report states that most of this funding has been carried over from last year, with the vast majority held by Fairshake. Fairshake's main backers include Coinbase, Ripple Labs, and Andreessen Horowitz.