Crypto group Fairshake targets key House races with $6 million in midterm spending

A prominent cryptocurrency campaign group, Fairshake, has unveiled a bipartisan list of House candidates it will support in the upcoming midterms, marking a significant push by the industry following a year of mixed legislative progress. The list includes 19 Republicans and 13 Democrats, with six members each receiving $1 million in backing. All 32 lawmakers supported the industry's top legislative priority, which stalled in Congress.

The group's spending contrasts sharply with its largest general election investment so far, a $30 million campaign against Democratic Senate candidate Sherrod Brown in Ohio. Brown faced nearly $40 million in crypto-related spending in 2024 and became a target again after Senate Democrats blocked the CLARITY Act, a bill aimed at establishing a federal regulatory framework for digital assets.

Fairshake plans to provide $1 million each to three Democrats, Reps. Janelle Bynum of Oregon, Steven Horsford of Nevada, and Derek Tran of California, and three Republicans, Reps. French Hill of Arkansas, Bryan Steil of Wisconsin, and Bill Huizenga of Michigan. The group emphasized its bipartisan approach, highlighting its support for both Democratic and Republican candidates in previous elections.

Geoff Vetter, a Fairshake spokesperson, stated that the organization backs pro-crypto candidates across party lines. The group has already spent $40 million on Democrats and $31 million on Republicans in primaries and special elections this year, winning 53 of the 57 races it engaged in. The industry hopes the next Congress will revive stalled legislation.