Crypto group targets 32 House races with millions in bipartisan spending

A major cryptocurrency advocacy group, Fairshake, has announced plans to invest millions in a bipartisan slate of House candidates ahead of the November midterms. The group will support 19 Republicans and 13 Democrats, with six members receiving $1 million each in campaign support. All 32 lawmakers backed legislation that was a key priority for the crypto industry, though the bill ultimately stalled in Congress.

The biggest spending so far has been in the Ohio Senate race, where Fairshake plans to spend nearly $30 million against Democratic candidate Sherrod Brown. The group had previously targeted Brown in 2024 with nearly $40 million in spending, which contributed to his loss to Republican Bernie Moreno. The move comes after Senate Democrats blocked the CLARITY Act, a bill aimed at establishing a federal regulatory framework for digital assets.

Fairshake emphasized its bipartisan approach, noting it has supported candidates from both parties in various elections this cycle. The group reported about $120 million in cash on hand at the end of August and has won 53 of the 57 races it engaged in so far. Among the highest-profile House candidates receiving $1 million each are Reps. Janelle Bynum (D-Oregon), Steven Horsford (D-Nevada), Derek Tran (D-California), French Hill (R-Arkansas), Bryan Steil (R-Wisconsin), and Bill Huizenga (R-Michigan).

Senate Democrats' decision to block the CLARITY Act has drawn criticism from some within the crypto industry. Rep. Ruben Gallego (D-Arizona), who received $10 million in support from Fairshake in 2024, called the targeting of Brown 'dumb politics,' arguing that bipartisan cooperation will be necessary to pass future legislation.