Fairshake crypto PAC network backs 32 House candidates in midterms

Title: Fairshake crypto PAC network backs 32 House candidates in midterms

URL Source: https://www.cnbc.com/2026/10/05/fairshake-crypto-super-pac-house-races.html

Published Time: 2026-10-05T18:05:30+0000

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Fairshake crypto PAC network backs 32 House candidates in midterms

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Fairshake crypto PAC network backs 32 House candidates in midterms

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Fairshake crypto PAC network backs 32 House candidates in midterms

Published Mon, Oct 5 2026 2:05 PM EDT


[Luke Fountain](https://www.cnbc.com/luke-fountain/)[@Luke_Fountain25](https://twitter.com/Luke_Fountain25)

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Key Points

• Cryptocurrency juggernaut Fairshake and its affiliated super PACs are backing 32 House candidates — 19 Republicans and 13 Democrats.

• The network is committing at least $6 million across six races and entered September with about $120.4 million in cash across Fairshake and its two affiliates.

• The spending comes after the crypto industry’s signature market-structure bill, the CLARITY Act, failed to advance in the Senate, leaving the next Congress to help determine the industry’s regulatory future.


People walk near the U.S Capitol Building on Oct. 1, 2026 in Washington, DC.

Anna Moneymaker | Getty Images

[Cryptocurrency’s](https://www.cnbc.com/markets/cryptocurrency/) biggest political spending network is making its first broad push into general-election House races this cycle, saying it plans to back 32 incumbents in hopes of preserving a pro-crypto bloc in [Congress](https://www.cnbc.com/congress/).

[Fairshake](https://www.fec.gov/data/committee/C00835959/) and its affiliated super political action committees announced Monday that they have committed funds to support 19 [Republicans](https://www.cnbc.com/republicans/) and 13 [Democrats](https://www.cnbc.com/democrats/) who have supported the crypto industry’s priorities.

The spending plan comes less than a month before November’s [midterm elections](https://www.cnbc.com/2026/09/22/republicans-democrats-election-fundraising-2026.html), which will determine which party controls the House and Senate.

“Fairshake has always been and always will be an issue-focused organization,” spokesperson Geoff Vetter said in a statement on Monday. “We back pro-crypto candidates who support American innovation in both parties.”

The network is committing at least $1 million in support of six House incumbents: Democratic Reps. Janelle Bynum of [Oregon;](https://www.cnbc.com/id/10000596) Steven Horsford of [Nevada;](https://www.cnbc.com/id/10000584) and Derek Tran of [California;](https://www.cnbc.com/id/10000551) and Republicans French Hill of [Arkansas](https://www.cnbc.com/id/10000548), Bill Huizenga of [Michigan;](https://www.cnbc.com/id/10000578) and Bryan Steil of [Wisconsin](https://www.cnbc.com/id/10000615).

[Fairshake](https://www.cnbc.com/2026/01/28/crypto-pac-fairshake-bill-vote.html) did not disclose how much the super PAC network plans to spend on the other 26 candidates.

But the network, whose backers include Coinbase, Ripple, and venture capital firm [Andreessen Horowitz](https://www.cnbc.com/2026/01/09/andreessen-horowitz-raises-15-billion-big-in-infrastructure-defense.html), has ample financial firepower.

Fairshake and its [two](https://www.fec.gov/data/committee/C00848440/?cycle=2026)[affiliated](https://www.fec.gov/data/committee/C00836221/?cycle=2026) super PACs, Protect Progress and Defend American Jobs, entered September with about $120.4 million in cash, according to Federal Election Commission [filings](https://www.fec.gov/data/committee/C00835959/). Protect Progress generally supports Democrats, and Defend American Jobs generally supports Republicans.

Fairshake’s network earlier this election cycle spent $71 million across 57 primaries and special elections. Its preferred candidates won 53 races.

The new general-election spending push comes weeks after the[CLARITY Act](https://www.cnbc.com/2026/09/15/senate-cloture-vote-on-clarity-act-fails-dealing-regulatory-setback-to-crypto-industry.html), the crypto industry’s signature market-structure bill, [failed](https://www.cnbc.com/video/2026/10/05/clarity-act-stalls-but-stablecoins-and-tokenization-have-green-light.html) to advance in the Senate. That leaves the industry’s biggest legislative priority unresolved, and means the next Congress could determine how crypto is [regulated](https://www.cnbc.com/2026/09/22/clarity-act-crypto-rules-regulators.html) in the U.S.

Crypto companies back the bill because it would set clearer rules for issuing and trading tokens, shift oversight of many digital assets from the [Securities and Exchange Commission](https://www.cnbc.com/2026/10/02/sec-bitcoin-crypto-proposal.html) to the [Commodity Futures Trading Commission](https://www.cnbc.com/2026/09/22/cftc-prediction-markets-mentions-contracts-have-manipulation-risk.html), and reduce the risk of securities-law enforcement.

All 32 candidates whom Fairshake is backing voted for the CLARITY Act when it passed the House 294-134 in July 2025.

Several of Fairshake’s biggest beneficiaries are positioned to influence how that bill is handled in the next Congress. Hill and Huizenga are, respectively, the chair and vice chair of the House Financial Services Committee, while Steil leads its digital-assets subcommittee.

On the Republican side, Fairshake is backing Ben Cline in[Virginia](https://www.cnbc.com/id/10000611); Troy Downing in[Montana](https://www.cnbc.com/id/10000582); Tom Emmer and Michelle Fischbach in[Minnesota](https://www.cnbc.com/id/10000579); Scott Fitzgerald and Bryan Steil in[Wisconsin](https://www.cnbc.com/id/10000615); Mike Haridopolos in[Florida](https://www.cnbc.com/id/10000561); Pat Harrigan and David Rouzer in[North Carolina](https://www.cnbc.com/id/10000591); French Hill in[Arkansas](https://www.cnbc.com/id/10000548); Bill Huizenga and Lisa McClain in[Michigan](https://www.cnbc.com/id/10000578); Brian Jack and Austin Scott in[Georgia](https://www.cnbc.com/id/10000562); Frank Lucas in[Oklahoma](https://www.cnbc.com/id/10000594); August Pfluger in[Texas](https://www.cnbc.com/id/10000608); Guy Reschenthaler and G.T. Thompson in[Pennsylvania](https://www.cnbc.com/id/10000598); and Jason Smith in[Missouri](https://www.cnbc.com/id/10000581).

Its Democratic slate includes[California](https://www.cnbc.com/id/10000551) Reps. Pete Aguilar, Jimmy Panetta and Derek Tran; Brendan Boyle of[Pennsylvania](https://www.cnbc.com/id/10000598); Janelle Bynum of[Oregon](https://www.cnbc.com/id/10000596); Josh Gottheimer of[New Jersey](https://www.cnbc.com/id/10000586); Steven Horsford of[Nevada](https://www.cnbc.com/id/10000584); Jonathan Jackson of[Illinois](https://www.cnbc.com/id/10000566); Lucy McBath of[Georgia](https://www.cnbc.com/id/10000562); Sarah McBride of[Delaware](https://www.cnbc.com/id/10000558); Hillary Scholten of[Michigan](https://www.cnbc.com/id/10000578); Terri Sewell of[Alabama](https://www.cnbc.com/id/10000545); and Suhas Subramanyam of[Virginia](https://www.cnbc.com/id/10000611).

Fairshake this cycle has already spent nearly $30 million in hopes of defeating Democratic Senate nominee [Sherrod Brown](https://www.cnbc.com/sherrod-brown/)in Ohio.

Fairshake spent about $40 million to defeat Brown in 2024, when the then-Senate Banking Committee chairman had promoted tougher crypto regulation and stalled a House-passed market-structure bill.

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