Fairshake PAC, the crypto industry’s political powerhouse, has built a war chest of over $103 million to sway the 2026 midterm elections.
The figure, confirmed by Fox Business journalist Eleanor Terrett, includes new contributions from Ripple, Coinbase, a16z, and leftover funds from the previous election cycle.
Ripple’s CEO, Brad Garlinghouse, made the stakes clear, calling Fairshake “the most successful multi-candidate, bipartisan Super PAC in American history” and announcing an additional $25 million from his company to push forward a pro-crypto agenda.
Fairshake raised a massive $204 million for the 2024 elections, becoming one of the top players in political spending. Key Senate and House races saw tens of millions spent on ads and campaign support to install candidates who aligned with the crypto industry’s goals.
One of the biggest wins was in Ohio, where Fairshake spent $40 million to oust Senator Sherrod Brown, a Democrat and vocal crypto critic. Brown, as chair of the Senate Banking Committee, stood in the way of legislation favorable to digital assets.
Fairshake backed Bernie Moreno, a Republican who made no secret of his pro-crypto stance. Moreno’s victory added a critical ally to the Senate, giving the crypto industry a louder voice in shaping regulatory frameworks.
Fairshake’s bipartisan strategy also drew attention. While it spent heavily on Republicans like Moreno, the PAC didn’t hesitate to back Democrats in key races. Ruben Gallego in Arizona and Elissa Slotkin in Michigan each received $3 million in support.
Critics, especially within the Republican Party, accused Fairshake of betraying allies by funding candidates traditionally viewed as anti-crypto. But the PAC made it clear: it’s about the issues, not the party.
President Trump’s campaign leaned heavily into crypto-friendly rhetoric. His promise to remove SEC Chair Gary Gensler, a crypto hater, resonated deeply within the industry.
The administration also signaled plans to push legislation favoring cryptocurrencies and potentially change regulatory power from the SEC to agencies like the Commodity Futures Trading Commission (CFTC), which is seen as more crypto-friendly.
Some Republicans believe the PAC’s bipartisan approach risked alienating GOP allies who had worked to build relationships with the crypto industry.
Even within the community, there were questions about Fairshake’s tactics. Some criticized its decision to avoid directly mentioning cryptocurrency in ads, calling it a missed opportunity to educate voters about the industry’s benefits.
Others saw it as a smart move, recognizing that the average voter might not yet be ready to embrace a full-throated crypto agenda.
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