Fairshake and its affiliated super PACs, holding $120.4 million in cash, are backing 19 Republicans and 13 Democrats in 32 House races ahead of November's midterm elections, with at least $1 million committed to six incumbents tied to the stalled CLARITY Act.
Cryptocurrency's largest political spending network is making its broadest push into general-election House races yet, committing funds to 32 incumbents across both parties as November's midterm elections approach.
Fairshake and its affiliated super political action committees announced Monday that they are backing 19 Republicans and 13 Democrats who have supported the crypto industry's legislative priorities, with the network entering September holding approximately $120.4 million in cash across Fairshake and its two affiliates, according to Federal Election Commission filings.
"Fairshake has always been and always will be an issue-focused organization," spokesperson Geoff Vetter said in a statement Monday. "We back pro-crypto candidates who support American innovation in both parties."
The network is committing at least $1 million each in support of six incumbents: Democratic Reps. Janelle Bynum of Oregon, Steven Horsford of Nevada, and Derek Tran of California; and Republicans French Hill of Arkansas, Bill Huizenga of Michigan, and Bryan Steil of Wisconsin. Fairshake did not disclose planned spending levels for the remaining 26 candidates.
Fairshake's backers include Coinbase, Ripple, and venture capital firm Andreessen Horowitz. Its two affiliated super PACs — Protect Progress, which generally supports Democrats, and Defend American Jobs, which generally supports Republicans — operate alongside the main committee.
The general-election push comes weeks after the CLARITY Act, the crypto industry's signature market-structure bill, failed to advance in the Senate. All 32 candidates whom Fairshake is backing voted for the legislation when it passed the House 294-134 in July 2025.
The bill would establish clearer rules for issuing and trading tokens, shift oversight of many digital assets from the Securities and Exchange Commission to the Commodity Futures Trading Commission, and reduce the risk of securities-law enforcement. Its failure in the Senate leaves the industry's biggest regulatory priority unresolved heading into the next Congress.
Several of the incumbents receiving the largest commitments hold positions that could directly shape the bill's fate. Hill and Huizenga are, respectively, the chair and vice chair of the House Financial Services Committee, while Steil leads its digital-assets subcommittee.
Fairshake's network earlier this election cycle spent $71 million across 57 primaries and special elections, with its preferred candidates winning 53 of those races. The network has also already committed nearly $30 million in the Ohio Senate race in hopes of defeating Democratic nominee Sherrod Brown — a continuation of its 2024 effort, in which Fairshake spent roughly $40 million against Brown when he chaired the Senate Banking Committee and stalled a House-passed market-structure bill.
With the CLARITY Act's regulatory framework still unresolved and House control undecided, Fairshake's spending signals that the crypto industry views the composition of the next Congress as central to determining how digital assets will be governed in the United States.
Jay Goldberg is a staff writer at TechEchelon covering technology, markets, and policy. He files the breaking news and deal coverage that move the publication's core desks.
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