fairshake

More than a week after the "blue wave" in the U.S. midterm elections allowed the Democratic Party to gain control of both the House and Senate, there are still 14 election results yet to be announced. According to Stand With Crypto, the results that have been announced have increased the number of crypto supporters in both chambers, and the remaining elections may bring in more supporters. In the undecided House races, three candidates have received support from the crypto political action committee (PAC), and all candidates in these districts are classified as "strongly support crypto" or "undecided."Specifically, Alaska Congressman Nick Begich is currently leading, with Fairshake's Republican affiliate Defend American Jobs investing $508,000 in him during the primary in early August; the same PAC invested $150,600 in North Carolina's 7th District Congressman David Rouzer, who is also leading. Louisiana State Senator Blake Miguez will enter the runoff on December 12 against the state's 6th District Democrat Chauna Banks, with Fellowship PAC investing $250,000 in him. On November 11, the Associated Press determined that South Carolina's 2nd District incumbent Congressman Joe Wilson won, and Stand With Crypto rated him as "strongly support crypto." His victory brings the total number of crypto supporters in the House to 246 and opponents to 107, while the Senate has 50 supporters and 33 opponents.Lindsay Fraser, Chief Policy Officer of the Blockchain Association, stated that the undecided new lawmakers "represent an opportunity." She noted that nearly a quarter of the new Congress members are newcomers, many of whom have not given much thought to blockchain technology, which is akin to "a blank slate." The association plans to organize outreach activities in January next year to engage newly elected lawmakers, aiming to get more lawmakers into Stand With Crypto's A and B ratings. She also mentioned that age influences lawmakers' crypto voting tendencies more than party affiliation, with lawmakers under 55 being significantly more likely to support the industry, and the new Congress overall being younger; she hopes the industry can face two candidates with in-depth thoughts on the industry in the 2028 election, avoiding the industry's fate being dependent on a single election outcome.

According to Bitcoin.com News, Ripple CEO Brad Garlinghouse stated in a post on X on November 4 that candidates supporting cryptocurrency have won in both parties, "67 million (and still growing) Americans using cryptocurrency will not go away," and the new Congress should continue the same mission: clear rules and building in the United States.This figure comes from the National Cryptocurrency Association (NCA) report titled "2026 Cryptocurrency Holders Status Report" released on May 13. This study, conducted in collaboration with Harris Poll, shows that about one-quarter of American adults hold cryptocurrency assets, up from one-fifth a year ago; the NCA chairman is Ripple's Chief Legal Officer Stuart Alderoty.Alderoty attributed this victory to the years of investment by the super PAC Fairshake and grassroots advocacy organizations, stating that early data from Stand With Crypto shows a significant number of pro-crypto lawmakers elected from both parties. Ripple had previously made a third investment of $25 million to Fairshake in November 2024. He expressed that "clear rules for digital assets have never been a matter of a single election cycle," and looks forward to working with both parties.

U.S. Republican Congressman French Hill won re-election in Arkansas's 2nd Congressional District, defeating Democratic challenger Chris Jones, a result confirmed by the Associated Press on Thursday. Hill currently serves as the Chairman of the U.S. House Financial Services Committee and is an important ally for the cryptocurrency industry in Congress.Hill initiated the CLARITY Act and voted in favor of the GENIUS Act, receiving an A rating from the cryptocurrency advocacy organization Stand With Crypto, classified as a strong supporter of cryptocurrency. The cryptocurrency industry-supported super PAC Fairshake pledged $1 million in October to support his re-election campaign, aiming to keep crypto-friendly lawmakers in Congress.With the Democrats winning control of the House of Representatives in Tuesday's U.S. midterm elections, Hill is expected to lose his position as Chairman of the Financial Services Committee in January. According to Reuters, the current senior Democratic member of the committee, Maxine Waters, is the leading candidate to succeed him. The Democrats also gained control of both the House and Senate, creating uncertainty for U.S. cryptocurrency legislation, with the industry potentially facing stricter scrutiny. The cryptocurrency industry-supported super PAC spent over $176 million in this election cycle.

Former Democratic Senator Sherrod Brown defeated incumbent Republican Senator Jon Husted in the Ohio Senate seat race, reclaiming the Senate seat, which poses a setback for the cryptocurrency political action committee Fairshake. Earlier this year, Fairshake invested $30 million in the Ohio campaign, explicitly targeting Brown. The crypto PAC and the broader cryptocurrency industry played a significant role in the 2024 elections, spending millions to influence political outcomes.This is not the first time Fairshake has funded efforts against Brown. Brown previously served as the chairman of the Senate Banking Committee, leading the cryptocurrency-related agenda and calling for action against the use of cryptocurrencies to fund terrorism and evade sanctions. In 2024, Fairshake invested $12 million to support pro-crypto Republican Bernie Moreno in challenging Brown, successfully defeating him. With the Democrats regaining control of the Senate, Brown may become the chairman of the Senate Agriculture Committee, which has jurisdiction over digital assets and prediction markets. Sources previously told The Block that if Brown takes the position, he is unlikely to push for any cryptocurrency legislation.Husted received support from the cryptocurrency advocacy group Stand With Crypto, having voted in favor of several cryptocurrency bills, including the broad cryptocurrency legislation "Clarity Act," and received an A rating from the organization, while Brown was rated F. Other candidates supported by Stand With Crypto include New Hampshire Democrat Chris Pappas, who won his campaign. Additionally, Democratic Senators Cory Booker and Mark Warner both successfully secured re-election, both of whom were involved in cryptocurrency legislative negotiations. Texas Democratic Senate candidate James Talarico received an A rating for his previous pro-crypto statements and voting to support the establishment of a strategic Bitcoin reserve in the state, defeating Texas Attorney General Ken Paxton on Tuesday.

The cryptocurrency industry has spent approximately $176 million in this round of the U.S. midterm election cycle, covering over 100 elections, aiming to establish a bipartisan network of congressional allies to continue advancing legislative demands after Trump's departure. As of October 20, the super political action committee Fairshake and its affiliated organizations have spent about $150.8 million, with other cryptocurrency organizations spending around $25 million, major funders including Coinbase, Ripple, and a16z.Fairshake claims that among the 58 candidates it supported in primaries or special elections this year, 53 won. The organization supported bipartisan candidates in the House elections; after Senate Democrats blocked the CLARITY Act from reaching a final vote, it decided to support only Republican candidates in the Senate elections.The industry's spending in the Ohio Senate election has exceeded $68 million, focusing on long-time critic of the cryptocurrency industry Sherrod Brown, with related advertisements mostly avoiding mentioning cryptocurrencies and instead focusing on issues like taxes. Pushing for the passage of the CLARITY Act is a core goal of the industry, but the bill has stalled in this Congress. JPMorgan analysts indicate that without the bill, rules set by regulators during Trump's term may be overturned by subsequent administrations.

The super political action committee Digital Freedom Fund, initiated by Gemini co-founders Cameron Winklevoss and Tyler Winklevoss in 2025, submitted documents to the Federal Election Commission on Tuesday, reporting for the first time advertising expenses exceeding $81,000 to support Republican candidate Ken Paxton's campaign for the Texas Senate seat, while opposing Democratic candidate James Talarico. Early voting in Texas began on October 19, with Election Day on November 3.As of September 30, the PAC has raised approximately $34 million, and its expenditures are not limited to Texas. Documents show its involvement in the Ohio Senate race between Republican candidate Jon Husted and Democratic candidate Sherrod Brown, bringing its total support for Husted to about $7 million. Another crypto industry PAC, Fairshake, also reported over $13 million in direct mail advertising expenditures this week, with approximately $9 million supporting Husted and over $4 million opposing independent candidate Dan Osborn in the Nebraska Senate election.These expenditures indicate potential support for candidates who favor crypto policies and legislation. Prediction contracts from Kalshi and Polymarket suggest that Democrats are favored to regain majority control of the House and Senate by 2027, and the majority party in both chambers will influence the legislative process for bills like the Digital Asset Market Structure Act, which failed to pass procedural voting in the Senate last month. Paxton previously defeated incumbent Senator John Cornyn in the May Republican primary, receiving over $500,000 in advertising support from the Fellowship PAC, backed by Anchorage Digital and Cantor Fitzgerald, with the funds executed through the Nxum Group co-founded by Bo Hines.

According to Cointelegraph, Protect Progress, an affiliated organization of the Fairshake super PAC closely related to the cryptocurrency industry, has submitted documents to the Federal Election Commission revealing that it has spent $362,000 on advertising to support Democratic incumbent Congresswoman Aisha Wahab in California's 14th congressional district, whose opponent is fellow Democrat Melissa Hernandez.Notably, Wahab defeated Hernandez with over 53% of the vote in the special election on August 18, aimed at filling the vacancy left by Eric Swalwell's resignation, which ends in January 2027. Swalwell resigned in April this year due to sexual assault allegations. Both Wahab and Hernandez were previously rated as "strongly supportive of crypto" in a questionnaire from the digital asset organization Stand With Crypto.Fairshake was established in 2023, primarily funded by Coinbase, Ripple Labs, and Andreessen Horowitz. Since the 2024 U.S. elections, the super PAC has invested tens of millions of dollars to support candidates it identifies as "pro-crypto." Its affiliated organization, Defend American Jobs, has also spent over $6.7 million opposing independent candidate Dan Osborn in the Nebraska Senate election and invested $8 million supporting incumbent Republican Jon Husted in Ohio, with total spending in that election exceeding $46 million.

According to documents submitted by the Federal Election Commission (FEC) on October 15, the political action committee Fairshake, primarily funded by Coinbase and Ripple Labs, has invested $46.6 million through its affiliated organization Defend American Jobs in the Ohio Senate election for media advertising opposing former Congressman Sherrod Brown's return to the Senate and supporting Republican incumbent Jon Husted. This expenditure is over 50% more than Fairshake's initial plan of $30 million announced in September.In an interview aired on Pod Save America on October 16, Brown responded that he has spent his entire career battling Wall Street, big pharmaceutical companies, and oil giants, achieving success in many cases, while Husted is a spokesperson for these forces, which is why they have invested tens of millions of dollars. In addition to Fairshake, the super PAC Digital Freedom Fund, established by Gemini co-founders Tyler and Cameron Winklevoss, reported approximately $3 million in advertising expenditures this week to oppose Brown and support Husted, bringing the total media spending in the Ohio campaign to over $5.9 million. With less than three weeks until the U.S. elections, early voting in Ohio has been underway for 10 days.Fairshake's spending this round has exceeded $41 million for 2024, when the PAC supported Republican Bernie Moreno and opposed the incumbent Brown. Brown, who previously served as chairman of the Senate Banking Committee, is one of the lawmakers in Congress openly questioning the laws and policies supported by the cryptocurrency industry. Defend American Jobs also reported spending over $6.7 million in the Nebraska Senate election opposing independent candidate Dan Osborn, whose opponent, Republican Pete Ricketts, voted in favor of the Digital Asset Market Structure Act and legislation related to stablecoins. Fairshake stated in January of this year that it held $193 million in cash before the election.

With only 22 days left until the U.S. midterm elections, Fairshake, aligned with the stance of the U.S. cryptocurrency industry, and its affiliated Political Action Committee (PAC) have ramped up advertising to support their identified "crypto-friendly" candidates. According to documents disclosed by the Federal Election Commission (FEC) on Saturday, the PACs Defend American Jobs and Protect Progress have collectively spent $2.7 million on media and direct mail production to support Democratic and Republican candidates running for the U.S. House of Representatives in 2026. Fairshake's funding primarily comes from donations from investment bank Cantor Fitzgerald, cryptocurrency exchange Coinbase, and Ripple Labs.Specific expenditures include: over $76,000 for House Majority Whip Tom Emmer, $73,000 for House Agriculture Committee Chair Glenn Thompson, $512,000 for California Congressman Pete Aguilar, and $500,000 for New Jersey Congressman Josh Gottheimer. A few days earlier, Fairshake announced it would additionally support 32 House candidates in 2026, with 6 of them each receiving $1 million in media support.

Former New York Governor Andrew Cuomo stated during a panel discussion at the Token2049 conference with OKX CEO Star Xu that if the cryptocurrency industry wants to push for federal-level cryptocurrency legislation, it must maintain a balance between supporting the Democratic and Republican parties. He pointed out that the industry previously "believed that heavy investment in the Republican Party" would help pass the CLARITY Act, but "when you heavily invest in the Republican Party, you inherently alienate the Democratic Party."According to data tracked by Tech Influence Watch, cryptocurrency-related political action committees have spent $54.3 million supporting the Republican Party and $26.2 million supporting the Democratic Party in the 2026 election cycle, with an additional $23.2 million spent opposing Democratic candidates. Cuomo stated that passing legislation requires support from both the Democratic and Republican parties and should be more balanced. He also refuted the notion that the Democratic Party is inherently opposed to cryptocurrency, arguing that cryptocurrency is actually well-suited for the Democratic Party because it empowers individuals who previously could not access financial products. Prediction market Kalshi data shows that the probability of the Democratic Party winning both houses of Congress is about 61%.In terms of background, the House of Representatives passed the CLARITY Act in July 2025 with the support of 78 Democratic representatives and 216 Republican representatives, while 134 Democratic representatives voted against it; in June 2025, the Senate passed the GENIUS Act with support from 18 Democratic senators.

According to Cointelegraph, the crypto political action committee (PAC) Fairshake, supported by institutions such as Coinbase, Ripple Labs, and A16z, announced that it will support 32 incumbent members of Congress in the 2026 U.S. midterm elections, including 19 Republicans and 13 Democrats.Fairshake plans to initially invest $6 million, providing $1 million in campaign support expenditures for 3 Republican and 3 Democratic candidates. Spokesperson Geoff Vetter stated, "We support pro-crypto candidates from both parties who advocate for American innovation." All 32 candidates voted in favor of advancing the Digital Asset Market Clarity Act (CLARITY Act) in 2025, but the bill failed to pass a key Senate vote, and its future remains uncertain.Fairshake expects to invest over $100 million this year to support House and Senate candidates through advertising, with at least $30 million allocated for the Ohio Senate race, backing Republican candidate Jon Husted against Democratic candidate Sherrod Brown.Vetter previously stated that as of August, Fairshake held $122 million in cash, aiming to help establish the largest pro-crypto coalition of lawmakers in U.S. history.

The cryptocurrency industry's main political action committee Fairshake has announced a new list of endorsements, supporting 32 current members of the U.S. House of Representatives in the November elections, including 13 Democrats and 19 Republicans. According to Fairshake spokesperson Geoff Vetter, six of them will each receive $1 million in support from Fairshake and its affiliated organizations. Vetter stated that Fairshake supports pro-crypto candidates from both parties who advocate for American innovation.The three Republicans receiving significant support are House Financial Services Committee Chairman French Hill, senior committee member Bill Huizenga, and Bryan Steil, who also serves as chairman of the Digital Assets Subcommittee. On the Democratic side, Nevada Representative Steven Horsford and California Representative Derek Tran received higher support, both earning an A rating in the digital asset issue assessment from Stand With Crypto, along with Oregon Representative Janelle Bynum. Bynum defeated Republican Lori Chavez-DeRemer two years ago to win her seat, the latter having previously served as Labor Secretary under the Trump administration.These members largely come from the House fundraising committee and the key Financial Services Committee, which will handle cryptocurrency tax issues. Vetter noted that Fairshake has supported 53 winners in 57 primary campaigns, aiming to create the largest pro-crypto caucus in American history.

The political action committee (PAC) Defend American Jobs, allied with the cryptocurrency industry and primarily funded by the industry, disclosed in documents submitted to the Federal Election Commission (FEC) that it has spent $11.4 million on media advertising to support Republican Jon Husted and oppose Democrat Sherrod Brown in the campaign for the Ohio U.S. Senate seat.This PAC is affiliated with Fairshake, which is supported by Coinbase and Ripple Labs. This advertising expenditure is part of Fairshake's commitment to initially invest $30 million to prevent Brown from returning to the Senate. Brown, a former chairman of the Senate Banking Committee, is one of the critical voices in Congress regarding cryptocurrency legislation and policy.In the 2024 Ohio Senate election, the showdown between Brown and Republican Bernie Moreno attracted over $300 million in spending from external groups like Fairshake, with cryptocurrency-related PACs and their affiliates spending about $41 million opposing Brown and supporting Moreno, who ultimately won with 50.2% of the vote. Husted's seat was appointed by Ohio Governor Mike DeWine, succeeding JD Vance, who was elected as the Vice President of the United States in 2024.

Crypto In America host Eleanor Terrett posted on X that after the failure of the Clarity Act, the crypto industry's super political action committee Fairshake is preparing to make its largest expenditure this year, investing $30 million to oppose Sherrod Brown's re-election campaign for senator.If Brown successfully returns to the Senate, he may regain his qualifications and serve as the chairman or a senior member of the Senate Banking Committee. This news was first reported by The New York Times and confirmed to Eleanor Terrett by a Fairshake spokesperson.

Overseas cryptocurrency KOL Brady Dale posted on X, stating that there are three responsible for the failure of the "CLARITY Act": first is Trump, due to his launch of the TRUMP token; second is Tim Scott, who insisted on having the Senate waste time drafting its own version, depleting the legislative momentum that remained after the passage of the "GENIUS Act"; third is Cynthia Lummis. Brady Dale mentioned that he believed last fall that the bill would be difficult to advance, and after Cynthia Lummis announced her retirement, the bill became completely hopeless.He believes that the Chairman of the U.S. Securities and Exchange Commission, Paul Atkins, will still alleviate the related impacts to some extent, but the movements of that day were not surprising, as the goal was merely to redirect the cryptocurrency political action committee Fairshake towards October.

The U.S. primary election season is nearing its end, and the cryptocurrency industry's super political action committee (PAC) has achieved victories in several key districts. Supported by major contributors such as Coinbase, Ripple, and a16z, Fairshake has helped approximately 50 candidates win nominations, including Massachusetts Democratic Congressman Jake Auchincloss, as well as Republican Senate candidates Barry Moore from Alabama, Andy Barr from Kentucky, Kevin Hern from Oklahoma, and Harriet Hageman from Wyoming. Prediction markets Polymarket and Kalshi indicate that these candidates have a winning probability of over 94% in the general election.Fairshake spokesperson Geoff Vetter stated that the organization has reserved $122 million for the fall elections. However, Fairshake also faced its biggest setback in Illinois, spending over $10 million in an attempt to prevent Democrat Juliana Stratton from securing the nomination but was unsuccessful. Additionally, the Fellowship PAC, supported by Cantor Fitzgerald and Anchorage Digital, has actually spent about $11 million, far less than the previously claimed $100 million; the Digital Freedom Fund, funded by the Winklevoss brothers with $21 million, has yet to engage in support for specific candidates.

The political action committee Protect Progress PAC, affiliated with the cryptocurrency industry supporter Fairshake, has spent approximately $189,000 on media advertising ahead of the primary election in Massachusetts's 4th congressional district, supporting Democratic Congressman Jake Auchincloss's re-election campaign. Records from the Federal Election Commission (FEC) show that this expenditure is Fairshake's latest move in the 2026 election, following over $130 million spent on advertising and media promotion during the 2024 election cycle.The Massachusetts primary is scheduled to take place on Tuesday local time. Democratic candidate Jason Poulos sent a letter to Auchincloss on August 16, requesting that he "publicly condemn" Protect Progress's involvement. Poulos stated that some of the funds were used to create "AI-generated spam" supporting Auchincloss, and pointed out that the latter has directly accepted $77,500 in donations from cryptocurrency industry sources since 2020. Auchincloss also voted in favor of the Digital Asset Market Structure Act in July 2025, which is currently under Senate review and has not yet been signed into law.In August, Fairshake and its affiliates invested approximately $3.6 million in congressional campaigns in Alaska, Florida, and Wyoming. Fairshake reported that it has about $122 million in cash ahead of the 2026 midterm elections. Massachusetts will be one of the last states in the U.S. to hold its primary this year, with just over two months remaining until the general election in November.

According to a report by Reuters, American companies have invested a record $517 million in the congressional elections for the House and Senate in 2026 over the 15 months ending in the first quarter of 2026, surpassing the previous high of $461 million during the two-year 2024 election cycle. The cryptocurrency, technology, and online betting industries contributed at least $294 million, becoming a major force in shaping the midterm elections.The Fairshake super PAC, primarily funded by Coinbase, Ripple, and a16z, had $193 million in funding at the beginning of the year and currently has about $130 million remaining; a16z has donated over $81 million to cryptocurrency and AI-related PACs. Elon Musk has invested over $90 million, and Meta has donated $65 million to four super PACs. The AI-related organization Leading the Future has raised $140 million, and Anthropic has donated at least $40 million through dark money non-profit organizations. Online betting companies like DraftKings and FanDuel have donated over $72 million.AdImpact expects total political ad spending for this round of midterm elections to reach a record $11.6 billion. Related industries are making unlimited expenditures through super PACs, affiliated PACs, and dark money non-profit organizations for advertising, voter mobilization, and more, with critics arguing that this amplifies the influence of niche issues such as cryptocurrency regulation, data center energy, and betting regulation.

According to Forbes, in the 2026 U.S. Congressional primary elections, the Democratic PAC "Protect Progress," supported by Coinbase, Ripple, and Andreessen Horowitz, is making a large-scale intervention in several Black district primaries. The PAC invested over $4.9 million in Maryland candidate Adrian Boafo, helped Christian Menefee in Texas defeat anti-crypto Congressman Al Green (spending over $5 million), and invested about $4 million in Georgia to support Jasmine Clark's victory.The related campaign advertisements did not mention the cryptocurrency industry background. Journalist Joy Reid characterized this operation as "Blackwashing"—delivering funds from the crypto industry to Black districts under the guise of progressiveness while deliberately hiding the identity of the funders.Analysts point out that the core logic of this network is not based on race, but rather on supporting allies and suppressing critics, with the ultimate goal of influencing the legislative direction of the pending "Digital Asset Market Clarification Act" (CLARITY Act).

According to Axios, American Republicans are increasingly dissatisfied with the flow of political donations in the cryptocurrency industry, demanding that the pro-crypto super PAC Fairshake, which holds about $165 million in funds, clarify its stance and focus on supporting Republican candidates in the 2026 midterm elections.Republicans pointed out that, against the backdrop of significant progress in promoting pro-crypto legislation such as the CLARITY Act, Fairshake has yet to announce specific election investment plans, which is disappointing. The points of contention include:Ohio Democratic Senate candidate Sherrod Brown: Fairshake spent over $40 million in 2024 to defeat incumbent Senator Brown, but Brown's attitude towards the cryptocurrency industry has noticeably softened in recent years.New Hampshire Congressman Chris Pappas: His Stand With Crypto rating rose from "F" to "A" within 8 months, and Republicans initially expected Fairshake to focus on his campaign.In response, Fairshake supporters stated that it is still too early to speak out and emphasized that the PAC is bipartisan in nature, aiming to "reward supporters and punish critics," rather than unconditionally supporting a particular party. Some pro-crypto Republicans (such as the Winklevoss brothers) have established separate independent groups specifically to support Republican candidates.