For the first time, cryptocurrency advocates in the United States successfully brought digital asset policies to the forefront of election discussions.
The PAC Fairshake initiative played a significant role by backing pro-crypto candidates in the 2024 elections, helping shape the political landscape. Despite notable successes, the group encountered challenges in key constituencies, highlighting its progress and hurdles in advancing the sector’s agenda.
PAC fairshake secures wins but faces challenges
By the conclusion of the 2024 elections, PAC Fairshake had secured victories for 52 of the candidates it endorsed. However, setbacks were also apparent. One significant loss occurred in the Colorado congressional race, where Republican Gabe Evans defeated Democrat Congresswoman Yadira Caraveo. The loss was particularly notable as the PAC had invested $2 million in campaign ads supporting Caraveo, who failed to retain her seat.
NEW: Here’s where Fairshake and its affiliate super PACs Protect Progress and Defend American Jobs stand right now with wins and losses with respect to spending this election cycle (which is still ongoing):52 wins1 loss4 losses in the primary elections5 races…
— Eleanor Terrett (@EleanorTerrett) November 11, 2024
Additionally, four of the candidates endorsed by the organization failed to make it through the primary elections. The group could potentially face additional losses, including three closely contested constituencies, with five races yet to be finalized. Despite these outcomes, Fairshake’s overall impact on the elections demonstrated its growing influence in shaping pro-crypto political momentum.
PAC prepares for 2026 midterm elections
Buoyed by its success in the 2024 elections, PAC Fairshake has already started preparing for the 2026 midterms. Fundraising efforts for the next election cycle are well underway, with the organization having secured $78 million. Of this amount, $30 million has been collected, while the remaining $48 million is in pledges.
Significant contributions have come from major industry players, including cryptocurrency exchange Coinbase and venture capital firm Andreessen Horowitz. These early financial commitments reflect the crypto sector’s confidence in Fairshake’s ability to influence future elections and keep digital assets at the forefront of political agendas.
Fairshake rises as a fundraising powerhouse
In the 2024 elections, Fairshake emerged as one of the top financial contributors, raising $170 million of the $245 million the cryptocurrency industry collectively contributed. The organization spent $135 million to support pro-crypto candidates from across the political spectrum.
Its efforts saw it become the second-largest donor group after the energy sector, highlighting its rising clout in U.S. politics. Analysts believe Fairshake’s performance in these elections demonstrates its growing influence and predict that the PAC will remain a significant force in 2026 and beyond.
The post Crypto PAC Fairshake Faces Setbacks as Some Candidate Endorsements Fall Short first appeared on Coinfea.
