Politics

Major Crypto PAC Reveals Which Campaigns Will Be Receiving Checks In Mail

Screenshot/YouTube/Sen. Jon Husted

Fairshake, a pro-cryptocurrency super political action committee (PAC), revealed its plan Monday to financially support over two dozen lawmakers in the midterm elections.

Fairshake said it would back 19 Republicans and 13 Democrats, with six members getting $1 million each, The Associated Press first reported. All 32 lawmakers supported The Clarity Act, a piece of legislation that was a top priority for the industry that previously failed to pass out of the Senate.

The super PAC planned to support House Democratic Caucus Chairman Pete Aguilar, Democratic New Jersey Rep. Josh Gottheimer, Republican Majority Whip Tom Emmer, Republican Arkansas Rep. French Hill and others. It will give $1 million each to Democratic Reps. Janelle Bynum of Oregon, Steven Horsford of Nevada and Derek Tran of California, according to the AP.

Hill, along with Republican Reps. Bryan Steil of Wisconsin and Bill Huizenga of Michigan, will received $1 million from the super PAC. Each lawmaker is a member of the House Financial Services Committee, which oversees crypto policy.

“Fairshake has always been and always will be an issue-focused organization,” a spokesperson for the group, Geoff Vetter, said in a statement. “We back pro-crypto candidates who support American innovation in both parties.”

Fairshake spent over $93.8 million in total disbursements and $13.26 million on independent expenditures as of Aug. 31, according to the latest Federal Elections Committee (FEC) data. It ended August with more than $120 million in cash on hand.

The crypto industry poured at least $206 million into super PACs and hybrid PACs in the 2026 election cycle to support pro-crypto candidates, especially those who supported The Clarity Act. Fairshake is primarily funded by crypto companies including Coinbase, and Andreesen Horowitz, a venture capitalist firm.

Coinbase and Ripple Labs primarily donated to outside groups, including pro-crypto super PACs Fairshake and Protect Progress, which then spent on independent expenditures to support or oppose candidates in the 2026 cycle.

The Clarity Act would establish the nation’s first comprehensive regulatory framework for the cryptocurrency sector by splitting oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It included consumer protections to prevent platforms from collapsing without consequence and sets rules on how crypto could be used for traditional consumer assets like mortgages and loans.

The legislation failed to advance in the Senate in a 49 to 50 vote on Sept. 15 after Democrats and Republicans could not agree on an ethics provision. Democrats demanded an ethics provision be included to crack down on President Donald Trump’s ability to profit off of his family’s crypto businesses.

Republican Sens. Josh Hawley of Missouri, Jerry Moran of Kansas and Susan Collins of Maine voted “no” with Democrats. Hawley expressed concern that the legislation would negatively impact local community banks.

“I’m going to vote with my state on this,” Hawley said. “I can tell you that my state right now — agriculture folks, local community people — are very, very worried about the effect on community banks. They are blowing me up over it.”

Fairshake announced in September it would spend $30 million to oppose former Democratic Ohio Sen. Sherrod Brown, who is running against Republican Ohio Sen. Jon Husted. Brown lost to Republican Ohio Sen. Bernie Moreno in November 2024 after Fairshake spent $40 million to oppose him.

Digital Chamber, Coinbase and the Blockchain Association, Stand with Crypto, Kraken and Andreessen Horowitz lobbied for The Clarity Act. Several banking organizations, including JP Morgan Chase, the American Banking Association and the Community Bankers Association, lobbied against the bill.