Cryptocurrency’s 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.
Fairshake and its affiliated super political action committees announced Monday that they have committed funds to support 19 Republicans and 13 Democrats who have supported the crypto industry’s priorities.
The spending plan comes less than a month before November’s midterm elections, 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; Steven Horsford of Nevada; and Derek Tran of California; and Republicans French Hill of Arkansas, Bill Huizenga of Michigan; and Bryan Steil of Wisconsin.
Fairshake 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, has ample financial firepower.
Fairshake and its two affiliated super PACs, Protect Progress and Defend American Jobs, entered September with about $120.4 million in cash, according to Federal Election Commission filings. 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, the crypto industry’s signature market-structure bill, failed 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 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 to the Commodity Futures Trading Commission, 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; Troy Downing in Montana; Tom Emmer and Michelle Fischbach in Minnesota; Scott Fitzgerald and Bryan Steil in Wisconsin; Mike Haridopolos in Florida; Pat Harrigan and David Rouzer in North Carolina; French Hill in Arkansas; Bill Huizenga and Lisa McClain in Michigan; Brian Jack and Austin Scott in Georgia; Frank Lucas in Oklahoma; August Pfluger in Texas; Guy Reschenthaler and G.T. Thompson in Pennsylvania; and Jason Smith in Missouri.
Its Democratic slate includes California Reps. Pete Aguilar, Jimmy Panetta and Derek Tran; Brendan Boyle of Pennsylvania; Janelle Bynum of Oregon; Josh Gottheimer of New Jersey; Steven Horsford of Nevada; Jonathan Jackson of Illinois; Lucy McBath of Georgia; Sarah McBride of Delaware; Hillary Scholten of Michigan; Terri Sewell of Alabama; and Suhas Subramanyam of Virginia.
Fairshake this cycle has already spent nearly $30 million in hopes of defeating Democratic Senate nominee 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.
