Blockchain Leadership Fund receives backing from Chainlink Labs and Anchorage Digital
A new hybrid political action committee with the ability to contribute funds directly to political candidates is gaining support from major industry players before November's midterm elections.
With seven months remaining until the November midterm elections, Chainlink Labs alongside Anchorage Digital have made public their roles as founding contributors to a political action committee (PAC) designed "to support candidates working to advance digital asset and blockchain policy in the United States."
Through a Monday announcement, both cryptocurrency firms revealed their backing of the Blockchain Leadership Fund, which operates as a hybrid PAC structure enabling direct candidate contributions in addition to independent expenditures like media purchasing.
The exact contribution amounts from either company remain undisclosed publicly, while Federal Election Commission (FEC) filings indicate zero funding activity between the Blockchain Leadership Fund's September establishment and Dec. 31 — although Anchorage, currently valued at $4.2 billion, confirmed today its intention to deploy "corporate resources."
This PAC's establishment, combined with financial backing from these cryptocurrency enterprises and involvement from The Digital Chamber advocacy organization members, arrives approximately seven months prior to Nov. 3, when US voters will decide which political party secures majority control over the House of Representatives and Senate. Control of both legislative chambers proves essential for enacting crypto and blockchain-related laws within the nation — such as the GENIUS Act payment stablecoin bill that received approval in July, and the CLARITY Act currently being evaluated in the Senate.
FEC documentation failed to clarify the PAC's strategic focus during a US election year critical for determining Congressional chamber control, and Cointelegraph did not receive immediate replies to information requests. A Chainlink spokesperson noted, however, that candidates willing to back the CLARITY Act, the crypto market structure legislation advancing through the Senate, merit "sustained, organized support from the industry."
"2026 will be pivotal for crypto regulation. The choices we make now will shape the industry, and American financial leadership, for decades. That outcome will be determined by who invests in the process and who shows up when it matters."
Anchorage
Nathan McCauley, Anchorage co-founder and CEO, has documented regular meetings with legislative members to discuss the market structure bill, which remains delayed due to concerns regarding stablecoin yield among other matters. The platform represents merely one among numerous crypto-connected companies that would presumably gain from this legislation becoming law.
A 2024 redux for the 2026 midterm elections?
During the 2024 nationwide federal election in the United States, a reported 270 pro-crypto candidates secured Congressional seats while Donald Trump claimed the presidency. Cryptocurrency-backed PACs, such as Fairshake funded by Ripple and Coinbase along with associated groups, deployed hundreds of millions of dollars throughout races nationwide to back candidates they deemed "pro-crypto."
Despite many US state primaries having already concluded in 2026, crypto-aligned PACs have indicated through their spending patterns an intention to replicate the identical strategy they utilized during the 2024 elections. In January, Fairshake announced the PAC had amassed a war chest exceeding $192 million dedicated to this year's races.