Fairshake, a political action committee backed by contributions from Coinbase, Ripple Labs, and Andreessen Horowitz, announced Monday that it would support 32 House of Representatives candidates in the 2026 US midterm elections. The PAC will initially spend $6 million combined on six of those candidates.
The group is backing 19 Republican and 13 Democratic incumbents in House races. Fairshake expects 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 backing Republican Jon Husted against Democrat Sherrod Brown.
Candidates receiving $1 million in spending
Six candidates will each receive $1 million in Fairshake spending ahead of the midterms. On the Democratic side, these include Oregon Representative Janelle Bynum, California Representative Derek Tran, and Nevada Representative Steven Horsford. Republicans backed with $1 million include Arkansas Representative French Hill, Michigan Representative Bill Huizenga, and Wisconsin Representative Bryan Steil.
All 32 candidates supported by Fairshake voted to advance the Digital Asset Market Clarity Act, legislation intended to establish clear regulatory roles for US financial agencies overseeing digital assets. The Republican-led bill failed to advance in a crucial Senate vote.
PAC funding and strategy
According to Fairshake, the organization had $122 million in cash on hand ahead of the midterms as of August. A spokesperson said the PAC aims to help build the largest pro-crypto caucus in American history while backing pro-crypto candidates in both parties.
Public Citizen reported that Fairshake had spent $82 million on political ads as of June, part of an estimated $189 million in total spending from advocacy groups and companies aligned with the crypto industry during that period.
