More Americans have tried crypto, but few vote on it, despite $176 million in campaign spending

Crypto is reaching more Americans, but it is not becoming a deciding issue at the ballot box. That is the picture from a new survey as the industry spends heavily on next week’s midterm elections.

What happened

A survey by Ipsos for the DeFi Education Fund found that 22% of Americans have ever owned or used crypto, up from 18%. Use in the past year, however, held flat at 13%, suggesting many people try it without sticking with it.

The same research found that only 13% of Americans say a candidate’s support for crypto growth is very important to them. That is despite the crypto industry spending $176 million on the midterm elections.

Background

The DeFi Education Fund is an advocacy group that pushes for policies favourable to decentralised finance. Survey sponsors can shape how questions are framed, but Ipsos is a large, established polling firm.

Crypto companies and executives have become major political donors in the US, funding groups that back candidates seen as supportive of the industry and oppose those seen as hostile. The industry argues that clear federal rules are needed for crypto to grow in the US.

Why it matters

The figures point to a gap. Many Americans have some experience with crypto, but few have made it part of their daily financial lives, and even fewer see it as a top political issue.

For the industry, that means its political influence comes mainly from money, not from voters. If the spending helps elect friendly lawmakers, it could still shape crypto rules. But the survey suggests that public support remains shallow.