A cryptocurrency-backed super PAC, Fairshake, is gearing up for the upcoming midterm elections with a substantial war chest of over $140 million.
Key Highlights:
Fairshake launches the midterm elections boasting more than $140 million to support lawmakers favoring cryptocurrency.
The PAC network allocated $135 million in 2024 to promote candidates aligned with crypto interests.
Significant contributors encompass Coinbase, Ripple, and venture capital firm Andreessen Horowitz.
This significant financial backing is expected to play a crucial role in influencing key industry-friendly legislation scheduled for a House vote this week, as reported by POLITICO.
During the first half of 2025, Fairshake raised an additional $52 million, further bolstering a substantial pool of crypto campaign contributions aimed at supporting lawmakers who align with the industry’s interests while countering its detractors.
Crypto PAC Network Invests $135 Million in 2024 Elections
The broader PAC network, which includes Fairshake, Protect Progress, and Defend American Jobs, spent a total of $135 million in the 2024 election cycle backing allies of the cryptocurrency sector and opposing adversaries across congressional races nationwide.
This political spending mitigated significant barriers to achieving the crypto sector’s policy objectives.
One notable instance includes former Senate Banking Chair Sherrod Brown losing his reelection bid in Ohio to crypto supporter Bernie Moreno, who benefitted from over $40 million in PAC expenditures.
The PACs also played a vital role in enhancing the profiles of crypto advocates in several critical House and Senate races, including fiercely contested events in Alabama, Arizona, and Virginia, as well as the California Democratic Senate primary.
Since November of last year, the PAC network has amassed an additional $109 million, intensifying its efforts as the House prepares to vote on a landmark crypto market structure bill.
Cedar Innovation, part of the Fairshake network of crypto super PACs, has characterized the CLARITY Act as “the most important vote members will take this Congress.”
“Digital asset market structure reform will define the next fifty years of American innovation,…
— Eleanor Mueller (@Eleanor_Mueller) July 14, 2025
This legislation seeks to establish a formal regulatory framework for digital assets, delineating responsibilities between securities and commodities regulators.
Republicans steering the bill are seeking bipartisan backing to ensure its successful passage in the Senate, where a threshold of 60 votes is necessary.
Founded in 2023 by several cryptocurrency firms, Fairshake aims to “support candidates committed to establishing the United States as the home for innovators developing the next generation of the internet,” while advocating for “a clearer regulatory and legal framework” for the blockchain industry.
Key donors supporting Fairshake include venture capital firm Andreessen Horowitz and leading cryptocurrency entities Coinbase and Ripple.
Recently, Coinbase contributed $25 million, with additional backing from Ripple Labs, Uniswap Labs, and crypto entrepreneur Robert Leshner.
Faryar Shirzad, Coinbase’s chief policy officer, affirmed the organization’s dedication to advocating for consumer protections and financial empowerment for digital asset holders.
“We are implementing an aggressive, targeted strategy for next year to ensure that pro-crypto candidates are prominent in crucial races across the nation,” stated Fairshake spokesperson Josh Vlasto.
CLARITY Act Declared the “Most Important Vote” of Congress
A non-profit group associated with the PACs, the Cedar Innovation Foundation, has labeled the CLARITY Act, a proposed crypto market structure bill, as “the most important vote members will take this Congress.”
As legislators gear up for the vote, some Democrats are contemplating their opposition to the far-reaching bill, although they may support a more focused measure concerning stablecoins that is expected to land on the president’s desk soon.
Despite this, the crypto super PACs remain primarily concentrated on the broader legislation as they strategize their expenditures for 2026.
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