Crypto PAC commits $6 million to House candidates for 2026 midterms

Fairshake, a crypto-backed political action committee (PAC) supported by Coinbase, Ripple Labs, and Andreessen Horowitz, has unveiled plans to spend $6 million on six House of Representatives candidates as part of its broader strategy ahead of the 2026 US midterm elections. The group aims to back a total of 32 candidates, with 19 Republicans and 13 Democrats receiving support. Fairshake’s total spending is projected to exceed $100 million, including at least $30 million in Ohio’s Senate race to support Republican Jon Husted against Democrat Sherrod Brown.

Fairshake will allocate $1 million each to three Republican and three Democratic candidates, including Oregon Representative Janelle Bynum, California Representative Derek Tran, and Nevada Representative Steven Horsford on the Democratic side. Republicans receiving support include Arkansas Representative French Hill, Michigan Representative Bill Huizenga, and Wisconsin Representative Bryan Steil. All 32 candidates supported by Fairshake voted in favor of the Digital Asset Market Clarity Act, which failed to pass a crucial Senate vote, leaving its future uncertain.

Geoff Vetter, a Fairshake spokesperson, emphasized the PAC’s focus on pro-crypto candidates from both parties, stating, “Fairshake has always been and always will be an issue-focused organization.” The group reported having $122 million in cash on hand ahead of the midterms, aiming to “help build the largest pro-crypto caucus in American history.” As of June, the PAC had spent $82 million on ads, according to the consumer advocacy group Public Citizen.

Polls suggest Democrats are favored to take majority control of both the House and Senate in 2027, potentially shaping the future of crypto regulation in the US. The failure of the Digital Asset Market Clarity Act could lead to increased PAC spending in key races, further highlighting the influence of crypto-backed political groups in the upcoming elections.