Elon Musk spent about $445 million to support Republicans in the United States midterm elections, including $276 million since July. Despite these efforts, Democrats regained control of Congress, prompting the billionaire to joke about it on X. The crypto industry invested about $176 million across more than 100 races, largely through Fairshake, which is funded by companies including Coinbase, Ripple, and Andreessen Horowitz. The spending failed to prevent Sherrod Brown from returning to the Senate, while the CLARITY Act faces greater uncertainty with the new Democratic majority.
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