Nov 4, 2024 - Politics & Policy

Fairshake PAC secures fresh $23 million for 2026 elections

Brady Dale

Illustration of a parachute attached to a pixelated coin. — Illustration: Shoshana Gordon/Axios

Fairshake, the crypto-oriented political action committee, has over $78 million on hand for next Congressional election cycle, with a new commitment from the venture capital firm Andreessen Horowitz (a16z).

Why it matters: The $169 million crypto firms deployed in the 2024 Congressional races put blockchain technology onto the agenda of American legislators for the first time.

Driving the news: On Monday, the venture firm announced $23 million in new funds for Fairshake.

This follows crypto exchange Coinbase announcing its own $25 million commitment last week.
Fairshake still has at least $30 million worth of cash on hand from this cycle, which brings the total to $78 million — for now.

What we're watching: In a blog post, shared in advance with Axios, about the commitment from a16z partner Chris Dixon, the firm urged Congress to act now on issues like the regulation of new cryptocurrencies and stablecoins.

A statement from Fairshake indicated it would continue to support candidates in both parties that support innovation and the American economy.

Flashback: Fairshake first grabbled attention in December 2023, when it announced its an initial war chest of the same amount: $78 million.

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Fairshake PAC secures fresh $23 million for 2026 elections

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