Crypto Group Fairshake Invests Millions in Bipartisan House Races
A major cryptocurrency campaign organization, Fairshake, has revealed a bipartisan list of House candidates it will support in the upcoming midterm elections. The group plans to back 19 Republicans and 13 Democrats, with six members receiving $1 million each in campaign support. All 32 candidates supported key legislation that was a priority for the crypto industry.
The announcement comes after a mixed legislative year for the industry, with significant spending already committed to other races. In September, Fairshake pledged nearly $30 million against Democratic Senate candidate Sherrod Brown in Ohio, following Senate Democrats' blockage of the CLARITY Act, which aimed to establish a federal regulatory framework for digital assets.
Fairshake's support will be particularly impactful in competitive House races, with three Democrats and three Republicans set to receive the highest level of funding. The group emphasizes its bipartisan approach, highlighting its investments in both primary and special elections this year, where it spent $40 million on Democrats and $31 million on Republicans.
While Fairshake has not disclosed further spending plans, it reported about $120 million in cash on hand at the end of August. The group's actions underscore the crypto industry's push to revive stalled legislation in the next Congress.