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Tether executive warns the 2026 midterms could have ‘seismic impact’ on crypto industry
Jesse Spiro, Head of Government Affairs at Tether, said at Consensus Miami 2026 that the midterms will be a key test for whether crypto’s recent policy gains in Washington can survive politically.
May 7, 2026, 6:28 p.m. 2 min read
What to know:
- Jesse Spiro, Head of Government Affairs at Tether, said the 2026 midterms will be a key test for whether crypto’s recent policy gains in Washington can survive politically, warning the elections could have a major impact on the industry even after progress on legislation like the GENIUS Act.
- The panel at Consensus Miami 2026 broadly agreed that crypto is becoming a more organized political force ahead of the midterms, with industry groups ramping up campaign spending and voter mobilization efforts to shape Congress and push for more durable pro-crypto policy.
Spiro warned that the elections could have a “seismic impact” on the industry’s trajectory, even as crypto advocacy groups prepare to deploy major political spending and grassroots organizing.
“Crypto should not be partisan,” Spiro said. “Best case is that we have members that are supportive of the industry, supportive of the ecosystem, supportive of good policy.”
Other panelists argued the industry’s political influence is only growing ahead of November.
Colin McLaren, Head of Government Relations at the Solana Policy Institute, said crypto’s political efforts are now focused on “durability,” ensuring that the future of Congress continues advancing industry priorities, including tax reform and protections for developers.
