Crypto PAC announces support for 32 House candidates in US midterms

Fairshake, the political action committee (PAC) backed by contributions from Coinbase, Ripple Labs and Andreessen Horowitz, announced that it would initially spend a combined $6 million on six House of Representatives candidates out of 32 people the group planned to back ahead of the 2026 US midterm elections.

On Monday, Fairshake said that it would support 19 Republican and 13 Democratic incumbents in US House races for 2026. The PAC is expected to spend more than $100 million on ads supporting House and Senate candidates in 2026, including at least $30 million in Ohio’s Senate race to back Republican Jon Husted over Democrat Sherrod Brown. 

“Fairshake has always been and always will be an issue-focused organization,” said Fairshake spokesperson Geoff Vetter. “We back pro-crypto candidates who support American innovation in both parties.”

According to the crypto-backed PAC, three Republican and three Democratic candidates will each receive $1 million in spending ahead of the 2026 midterms. These politicians included Oregon Representative Janelle Bynum, California Representative Derek Tran and Nevada Representative Steven Horsford on the Democratic side and Arkansas Representative French Hill, Michigan Representative Bill Huizenga and Wisconsin Representative Bryan Steil as Republicans.

All 32 candidates Fairshake said would receive its support voted to advance the Digital Asset Market Clarity Act, a bill that had been expected to establish clear roles for US financial agencies in overseeing digital assets. The legislation failed to pass a crucial Senate vote, leaving the Republican-led bill’s future uncertain ahead of the midterm elections. Many polls showed Democrats favored to take majority control of both the House and Senate in 2027.

Vetter said in August that Fairshake had “$122 million cash on hand” ahead of the midterms as part of its plan to “help build the largest pro-crypto caucus in American history.” The consumer advocacy group Public Citizen reported that the PAC had spent $82 million on ads opposing or backing candidates as of June, less than half of the $189 million it estimated came from advocacy groups and companies aligned with the crypto industry.

Related: CLARITY vote failure could stoke more crypto PAC spending in key races