Crypto Spends $176M on Midterms; Only 13% of Voters Call It a Priority

The spending-to-salience gap is the real story: $176 million buys access and messaging, but it cannot manufacture voter intensity where none exists. This matters most for the industry's lobbying apparatus and the candidates who have leaned on crypto-aligned money, since the returns on that capital depend on mobilization that the polling does not show. Whether crypto remains a donor-driven rather than voter-driven political force after the midterms is the open question worth watching.