
The political action committee (PAC) Fairshake, which could have contributed to many candidates espousing “pro-crypto” views winning in the 2024 US elections, has reported holding more than $116 million to be used to influence the outcome of the 2026 midterms.
In a Jan. 30 notice, Fairshake said it had added more than $11 million in contributions from unnamed sources, which at the time of publication had not been reported to the Federal Election Commission (FEC). However, some of the PAC’s most prominent donors have included Ripple Labs, Coinbase, venture capital firm Andreessen Horowitz, and Jump Crypto.
“We are keeping our foot on the gas,” said Fairshake spokesperson Josh Vlasto. “With the midterms on the horizon, we are poised to continue backing candidates committed to advancing innovation, growing jobs, and enacting thoughtful, responsible regulation and opposing those who play politics and stand in the way with the voters’ support for crypto.”
US crypto policy in 2025 and beyond
It’s unclear what impact millions of dollars from the crypto industry funneled through PACs could have in the 2026 US midterms. Many experts have suggested that Fairshake’s affiliate Defend American Jobs spending more than $40 million on ads to support Republican Bernie Moreno for the US Senate in Ohio could have contributed to incumbent Sherrod Brown’s loss.
Republicans currently hold a 218 to 215 majority in the House, with two Florida seats vacant, and a 53 to 47 majority in the Senate. Though many lawmakers have said they don’t consider crypto legislation to be a partisan issue, whichever political party has control of either chamber can effectively set the agenda for two years.