Fairshake PAC Drops $6M on 32 House Allies, Aiming to Build Pro-Crypto Caucus Worth Its $122M War Chest 🏛️

Fairshake, the political action committee backed by Coinbase, Ripple Labs and Andreessen Horowitz, announced Monday an initial round of $6 million in spending across six House of Representatives candidates, the first of 32 lawmakers the group plans to support ahead of the 2026 US midterm elections. The PAC will back 19 Republican and 13 Democratic incumbents in House races. All 32 candidates voted to advance the Digital Asset Market Clarity Act, a bill that would have established clear oversight roles for US financial agencies over digital assets but failed to pass a key Senate vote, leaving the legislation's future uncertain before the midterms.

Three Republican and three Democratic candidates will each receive $1 million in initial spending, according to Fairshake. The Democratic recipients are Oregon Representative Janelle Bynum, California Representative Derek Tran and Nevada Representative Steven Horsford. The Republican recipients are Arkansas Representative French Hill, Michigan Representative Bill Huizenga and Wisconsin Representative Bryan Steil. "Fairshake has always been and always will be an issue-focused organization," said Fairshake spokesperson Geoff Vetter. "We back pro-crypto candidates who support American innovation in both parties."

Fairshake is expected to spend more than $100 million on ads supporting House and Senate candidates in 2026, including at least $30 million in Ohio's Senate race backing Republican Jon Husted over Democrat Sherrod Brown. Vetter said in August that Fairshake had $122 million cash on hand as part of its plan to "help build the largest pro-crypto caucus in American history." Many polls have shown Democrats favored to take majority control of both the House and Senate in 2027.

The consumer advocacy group Public Citizen reported that the PAC had spent $82 million on ads opposing or backing candidates as of June, less than half of the $189 million it estimated came from advocacy groups and companies aligned with the crypto industry. Analysts have suggested the failure of the CLARITY Act vote could drive further crypto PAC spending in key races ahead of the midterms.