Schumer works crypto for Kamala Harris, with help from Mark Cuban

• Schumer will speak at a town hall Wednesday night hosted by a group called "Crypto4Harris." He will be introduced by billionaire Mark Cuban, a source told Axios. The hope is to boost fundraising for Harris.

Between the lines: Schumer is expected to champion a bill from Senate Democrats to expand the federal government's ability to oversee digital assets. The legislation has received a lukewarm response from the industry.

• Schumer will point out that Senate Republicans are standing in the way of the bill going forward in the chamber, the source said.
• Other Democratic lawmakers, including Rep. Ritchie Torres (D-N.Y.), will be on the virtual fundraiser.

Zoom out: Fairshake PAC has amassed over $85 million to spend on the 2024 election cycle, with contributions from crypto firms, executives and investors.

• That's just a fraction of the money being thrown around by the industry, and Democrats want that financial backing.

• Fairshake announced this week that it will spend millions to oust Sen. Sherrod Brown (D-Ohio), and it will support two Senate Democratic candidates in Arizona and Michigan.

The bottom line: While crypto has been increasingly discussed by policymakers, there has been little progress or clarity on how the federal government will deal with the industry.

• Whoever controls the levers of government over the next four years will have a tremendous amount of influence over the future of cryptocurrency.