Key facts
- Fairshake, a super PAC funded by crypto companies, will spend to support Senator Pete Ricketts' reelection in Nebraska.
- The amount of spending by Fairshake in the Nebraska race is currently unclear.
- Fairshake is also spending to support Republicans in the Ohio Senate race.
- The PAC is primarily funded by Coinbase, Ripple, and Andreessen Horowitz.
- Ricketts faces independent candidate Dan Osborn in Nebraska, a state considered reliably red, though polls indicate a competitive race.
The cryptocurrency industry's leading super PAC, Fairshake, is preparing to spend money to support Republican Senator Pete Ricketts in his upcoming reelection campaign in Nebraska, a spokesperson for the group confirmed to POLITICO. The exact amount Fairshake intends to spend in the Nebraska contest remains undisclosed.
Fairshake, which receives its primary funding from major cryptocurrency companies Coinbase and Ripple, as well as venture capital firm Andreessen Horowitz, is also directing financial support towards Republican candidates in the Ohio Senate race.
In Nebraska, Ricketts is competing against independent candidate Dan Osborn. While Nebraska is considered a reliably Republican state, recent polls suggest the Senate race is competitive. This is partly attributed to a challenging national environment for Republicans and Osborn's populist campaign platform, which resonates with his background as a former labor union leader.