Key facts
- Fairshake PAC will financially back 32 US House candidates in the 2026 midterm elections.
- The PAC is backed by contributions from Coinbase, Ripple Labs, and Andreessen Horowitz.
- Fairshake plans to spend over $100 million on ads supporting candidates in 2026.
- The supported candidates all voted to advance the Digital Asset Market Clarity Act.
- The Digital Asset Market Clarity Act failed to pass a crucial Senate vote.
- Fairshake had $122 million cash on hand ahead of the midterms.
Fairshake, a political action committee funded by major cryptocurrency firms including Coinbase, Ripple Labs, and Andreessen Horowitz, has announced its intention to financially support 32 candidates running for the US House of Representatives in the 2026 midterm elections. The PAC plans to allocate over $100 million to support these candidates, with an initial $6 million designated for six specific House races.
Of the 32 candidates, 19 are Republican incumbents and 13 are Democratic incumbents. The PAC's spokesperson, Geoff Vetter, stated that Fairshake is an "issue-focused organization" that backs "pro-crypto candidates who support American innovation in both parties."
Three Republican and three Democratic candidates are set to receive $1 million each. These include Democrats Janelle Bynum, Derek Tran, and Steven Horsford, and Republicans French Hill, Bill Huizenga, and Bryan Steil. All 32 supported candidates previously voted in favor of the Digital Asset Market Clarity Act, a bill aimed at establishing clear regulatory roles for US financial agencies in overseeing digital assets. However, the bill failed to pass a crucial Senate vote, leaving its future uncertain.
Vetter also indicated that Fairshake had $122 million in cash on hand ahead of the midterms, as part of its broader strategy to foster a significant pro-crypto caucus in Congress. Consumer advocacy group Public Citizen reported that Fairshake had spent $82 million on ads as of June, a fraction of the estimated $189 million from crypto-aligned groups.