Leading crypto PAC has already raised $193M for 2026
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Pro-crypto political action committee Fairshake and its affiliate PACs have more than $193 million in cash on hand heading into the 2026 midterms.
Why it matters: That's nearly $60 million more than the group spent in 2024, when it poured more money into races than any other single-issue PAC — a clear signal from the industry that it plans to have a big hand in reshaping the next House and Senate.
By the numbers: Fairshake's war chest — reported at $140 million last July — includes a $25 million contribution from Coinbase last year and new infusions of $25 million and $24 million from crypto firm Ripple and venture capital firm a16z, respectively, according to a statement.
State of play: Since the 2024 election, where Fairshake-backed candidates won elections by overwhelming margins, lawmakers have passed a major stablecoin bill and confirmed industry-friendly regulators to key posts including the Securities and Exchange Commission.
- The biggest issue on the table now for the crypto industry is a broader market structure bill — crucial to ending a long-running ambiguity over whether digital assets are regulated by the SEC or the Commodity Futures Trading Commission.
Friction point: Coinbase recently withdrew its support from a version of the bill being considered by the Senate Agriculture Committee, arguing that late additions to the legislation contained "fatal flaws." That triggered a delay in a scheduled markup, now expected this week.
- One point of contention is a standoff with the traditional banking industry, which has pushed to disallow non-banks from offering stablecoin rewards, arguing that they will compete against bank deposits.
- Democrats are also pushing amendments to add ethics requirements for senior officials, amid continued anger over the Trump family's expanding crypto business.
What they're saying: "With the midterms approaching, we are united behind our mission with Fairshake continuing to oppose anti-crypto politicians and support pro-crypto leaders," spokesperson Josh Vlasto said in a statement.
- "The time is now to protect consumers, cultivate American innovation and open up the financial system to more Americans."
