A cryptocurrency-backed super PAC, Fairshake, is heading into the upcoming midterm elections with more than $140 million in the bank.
Key Takeaways:
Fairshake enters the midterms with over $140 million to back pro-crypto lawmakers. The PAC network spent $135 million in 2024 helping crypto-friendly candidates. Major donors include Coinbase, Ripple, and Andreessen Horowitz.The massive war chest is poised to influence the fate of critical industry-friendly legislation scheduled for a House vote this week, according to a recent report by POLITICO.
Fairshake raised $52 million in the first half of 2025, adding to a hefty sum of crypto campaign contributions aimed at supporting lawmakers who align with the industry’s agenda while targeting critics.
Crypto PAC Network Spends $135M in 2024 Elections
The PAC network, which includes Fairshake, Protect Progress, and Defend American Jobs, collectively spent $135 million during the 2024 election cycle backing crypto allies and challenging opponents in congressional races nationwide.
The political spending helped remove significant obstacles for the crypto sector’s policy goals.
For instance, former Senate Banking Chair Sherrod Brown lost his Ohio reelection to crypto supporter Bernie Moreno, who benefited from over $40 million in PAC spending.
The PACs also boosted crypto proponents in numerous key House and Senate races, including the competitive California Democratic Senate primary and tight contests in Alabama, Arizona, and Virginia.
Since last November, the PAC network has raised an additional $109 million, ramping up efforts as the House prepares to vote on a landmark crypto market structure bill.
The legislation aims to create a formal regulatory framework for digital assets, dividing oversight between securities and commodities regulators.
Republicans leading the bill seek bipartisan support to secure its passage in the Senate, where 60 votes are required.
Created by a handful of crypto companies in 2023, Fairshake “supports candidates committed to securing the United States as the home to innovators building the next generation of the internet” while pushing for “a clearer regulatory and legal framework” for the blockchain sector.
Major donors behind Fairshake include venture capital firm Andreessen Horowitz, and crypto giants Coinbase and Ripple.
Coinbase recently contributed $25 million, with Ripple Labs, Uniswap Labs, and crypto entrepreneur Robert Leshner also backing the effort.
Coinbase’s chief policy officer, Faryar Shirzad, said the company is committed to fighting for consumer protections and financial empowerment for digital asset holders.
“We are building an aggressive, targeted strategy for next year to ensure that pro-crypto voices are heard in key races across the country,” Fairshake spokesperson Josh Vlasto said.
CLARITY Act is the “Most Important Vote” of Congress
A non-profit affiliated with the PACs, the Cedar Innovation Foundation, called the CLARITY Act, a crypto market structure bill, “the most important vote members will take this Congress.”
As lawmakers prepare for the vote, some Democrats weigh opposition to the broad bill but may support a narrower stablecoin-focused measure expected to reach the president’s desk soon.
The crypto super PACs, however, are primarily focused on the outcome of the larger legislation as they plan their 2026 spending strategies.
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