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President Donald Trump's approval rating has languished, but his relentless cheerleading for the crypto industry has won him a segment of loyal friends among U.S. voters: crypto investors who step outside their personal politics to praise his work and see the president and his Republican allies as the best bet for progress in digital assets.
The congressional midterms coming next year may continue to see a significant voting block up for grabs by candidates advocating for crypto-friendly policy, with 64% of investors in a new poll saying a candidate's crypto stance is important to them, according to answers from the 800 respondents in an online McLaughlin & Associates survey published on Wednesday. Polling in the previous elections in 2024 had already begun to demonstrate a growing segment of voters who considered crypto policy among their top concerns.
In this national snapshot, which was taken in late July under a commission from the Digital Chamber, an industry lobbying group, 73% supported Trump's crypto agenda and actions, with a 3.4% margin of error estimated. For this cohort of investors, the president carried a 54% approval rating — far above his level with the rest of the electorate.
Trump's current, overall approval rating has slumped to about 40%, according to Gallup, which is a few points below former President Joe Biden's mark at the same period in that previous presidential term, though it's well above the 34% Trump ended his first term at.
Especially noteworthy about Trump's relatively glowing approval level from crypto voters is that the group otherwise tends slightly toward more Democratic and liberal views, their responses indicated. But a lot more of them trust Trump and the Republicans to elevate crypto causes (37%) than they do Democrats (24%), though "neither" came in at a significant third place (16%).
The surveyed investors were more likely to be registered to vote than the rest of the population, and they're more likely to be college-educated, male and earn a lower income, in addition to being generally younger and more racially diverse.
Under Trump and the Republican-controlled Congress, the first major crypto law was established this year to govern stablecoin issuers. The industry's next priority is getting a bill finished that will regulate the wider U.S. crypto markets, though that effort may be languishing this year as lawmakers in Congress are bogged down in the budget fight that's shut down the federal government.
Though Republicans have been stronger overall supporters of crypto measures, a wide swath of Democrats have joined in key votes to advance the policies.
The industry's massive political action committee, Fairshake, has already amassed a tower of funds to influence the outcome of next year's congressional races. The super PAC demonstrated in 2024 an interest in spreading the money between the two parties, though other prominent crypto insiders favor Republicans.
Read More: Trump's New Crypto Enthusiasm Could Help Him Win More Votes: Poll
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