Key highlights:
- Fairshake committed $6M across 32 House incumbents (19 Republicans, 13 Democrats), with $1M each for six candidates.
- The crypto super PAC network holds $108M+ in cash with a 93% win rate (53 of 57 races in 2026), though losses in Florida and Illinois show limitations.
- The CLARITY Act’s 49-50 Senate defeat has made the midterms critical for crypto policy, as a new Congress could revisit the legislation.
Crypto industry super PAC Fairshake is backing 32 House incumbents ahead of the November midterm elections, with an initial $6 million spending commitment covering six of those candidates.
Fairshake said Monday it would support 19 Republicans and 13 Democrats in its first push into general election House races this cycle. The PAC has committed $1 million each to six candidates, bringing the disclosed spending total to $6 million, while it has not yet revealed how much it plans to spend on the other 26 candidates.
The six candidates receiving the initial $1 million commitments are Republican Reps. French Hill of Arkansas, Bill Huizenga of Michigan, and Bryan Steil of Wisconsin, along with Democratic Reps. Janelle Bynum of Oregon, Steven Horsford of Nevada, and Derek Tran of California.
Fairshake said all of the candidates support the crypto industry’s priorities, including the Digital Asset Market CLARITY Act, which passed the House last year but stalled in the Senate last month.
The PAC has framed its support as issue-focused and bipartisan, backing lawmakers from both parties who have supported its preferred crypto legislation.
“Fairshake has always been and always will be an issue-focused organization,” spokesperson Geoff Vetter said.
The three Republican recipients are particularly relevant to Fairshake’s policy agenda because of their positions on the House Financial Services Committee. Hill chairs the committee, Huizenga serves as vice chair, and Steil leads its digital assets subcommittee.
Fairshake’s broader spending plans remain unclear because the PAC has not disclosed individual allocations for the other 26 House candidates
Fairshake’s $120M war chest Is growing, can its win rate last?
Fairshake and its affiliated super PACs, Protect Progress and Defend American Jobs, had about $120.4 million in cash entering September, according to Federal Election Commission filings.
Fairshake’s latest financial report showed $137.92 million in receipts between January 2025 and August 31, 2026, while ending the period with $108.29 million in cash.
The committee reported $93.87 million in total disbursements during the period.
About $70 million went to affiliated committees, while $13.30 million was classified as independent expenditures and another $10.58 million covered operating expenses.
The three committees allow the network to support candidates from both parties. Protect Progress generally backs Democrats, while Defend American Jobs focuses on Republicans.
The strategy has allowed the industry to pursue a bipartisan approach rather than tying its political influence to one party.
That strategy has produced a strong record so far, as Fairshake says its network has won 53 of the 57 races it has entered during the 2026 cycle, giving it a roughly 93% win rate.
Earlier in the year, the group had gone 38-2 after spending in its first 40 races, although political observers have noted that many of those contests were in districts where its preferred candidates were already strong.
The record has not been perfect, as Fairshake spent about $2 million in a Florida Democratic primary but failed to defeat Miami-Dade County Commissioner Oliver Gilbert.
It also suffered defeats in Illinois, including races where it spent millions trying to stop candidates viewed as potential crypto critics.
After the CLARITY Act setback, crypto turns to the ballot box
The network is now moving into a different stage of the election. General-election races are more consequential because control of Congress will determine how much room lawmakers have to revisit crypto legislation after the Senate rejected a procedural motion on the CLARITY Act in September.
The bill received 49 votes in favor and 50 against, falling short of the 60 votes required to advance.
The legislation remains a major priority for the crypto industry because it would establish a framework for digital-asset markets and clarify the roles of the Securities and Exchange Commission and Commodity Futures Trading Commission.
With the Senate setback, attention is shifting toward the Nov. 3 elections.
A new Congress could revisit the legislation, while the lawmakers elected this fall will help shape the next phase of U.S. crypto policy.
Fairshake has already intensified its political spending, as in September, the group prepared at least $30 million to oppose former Sen. Sherrod Brown in Ohio.
The industry spent more than $40 million against Brown in 2024, when he was one of its most prominent critics.
The effort is part of a broader campaign to influence the makeup of Congress.
Stand With Crypto has begun endorsing candidates from both parties, while crypto companies and industry groups continue lobbying lawmakers following the CLARITY Act setback.
With more than $100 million still available across Fairshake’s network, the coming weeks will test whether the industry’s growing political spending can translate into influence in competitive general-election races and shape the next Congress’s approach to crypto regulation.
Source:: Crypto PAC Fairshake Backs 32 House Candidates With Initial $6M Spending