Pro-Crypto Super PAC Fairshake Backs 32 Lawmakers in Midterm Elections

Fairshake, a pro-cryptocurrency super PAC, has unveiled its financial backing for 32 lawmakers ahead of the midterm elections, with 19 Republicans and 13 Democrats receiving support. The PAC plans to donate $1 million each to six members of Congress, including Democratic Reps. Janelle Bynum, Steven Horsford, and Derek Tran, as well as Republican Reps. French Hill, Bryan Steil, and Bill Huizenga. All 32 lawmakers previously supported The Clarity Act, a failed legislative effort to establish a regulatory framework for the crypto industry.

Fairshake, primarily funded by crypto companies like Coinbase and Andreessen Horowitz, has already spent $93.8 million in total disbursements and $13.26 million on independent expenditures. The PAC ended August with over $120 million in cash on hand. The crypto industry has poured at least $206 million into super PACs and hybrid PACs during the 2026 election cycle to support pro-crypto candidates.

The Clarity Act, which aimed to split oversight between the SEC and CFTC, failed to advance in the Senate on September 15 due to disagreements over an ethics provision. Republican Sens. Josh Hawley, Jerry Moran, and Susan Collins voted against the bill, citing concerns over its impact on local community banks. Fairshake has also announced plans to spend $30 million to oppose former Democratic Ohio Sen. Sherrod Brown, who lost to Republican Ohio Sen. Bernie Moreno in 2024 after Fairshake spent $40 million opposing him.