Fairshake PAC Pledges Financial Support for 32 Congressional Candidates in Upcoming Midterms
In its continued effort to establish a "pro-crypto" Congress, the Fairshake PAC has announced its intention to support 32 candidates running for House of Representatives seats in advance of the 2026 US midterm elections.
The political action committee known as Fairshake, which receives financial backing from major crypto industry players including Coinbase, Ripple Labs and Andreessen Horowitz, revealed plans to allocate an initial $6 million across six House of Representatives candidates as part of a broader initiative to support 32 individuals in total leading up to the 2026 US midterm elections.
In a Monday announcement, Fairshake disclosed its commitment to backing 13 Democratic incumbents and 19 Republican incumbents competing in US House races for 2026. The political action committee anticipates spending upwards of $100 million on advertising campaigns supporting both House and Senate candidates throughout 2026, with a minimum of $30 million earmarked for Ohio's Senate race where it plans to support Republican candidate Jon Husted in his contest against Democrat Sherrod Brown.
Fairshake has always been and always will be an issue-focused organization. We back pro-crypto candidates who support American innovation in both parties.
Geoff Vetter, Fairshake spokesperson
The cryptocurrency-backed political action committee indicated that six candidates—three from each major party—would each benefit from $1 million in expenditures prior to the 2026 midterm elections. The Democratic recipients include Oregon Representative Janelle Bynum, California Representative Derek Tran and Nevada Representative Steven Horsford, while the Republican beneficiaries comprise Arkansas Representative French Hill, Michigan Representative Bill Huizenga and Wisconsin Representative Bryan Steil.
Each of the 32 candidates designated to receive Fairshake's backing cast votes in support of advancing the Digital Asset Market Clarity Act, proposed legislation intended to establish defined responsibilities for US financial regulatory agencies in supervising digital assets. The measure ultimately failed to secure passage in a critical Senate vote, creating uncertainty around the Republican-sponsored bill's prospects prior to the midterm elections. Numerous polling data suggested Democrats were positioned favorably to secure majority control of both the House and Senate beginning in 2027.
In an August statement, Vetter disclosed that Fairshake possessed "$122 million cash on hand" in preparation for the midterm elections as part of its strategy to "help build the largest pro-crypto caucus in American history." According to a report from consumer advocacy organization Public Citizen, the PAC had allocated $82 million toward advertisements supporting or opposing candidates through June, representing less than half of the $189 million the group estimated originated from advocacy organizations and corporations affiliated with the cryptocurrency industry.