Affiliate entities of Fairshake, the high-profile United States political action committee funded largely by contributions from major digital asset industry players including Andreessen Horowitz, cryptocurrency exchange Coinbase, and Ripple Labs, have reported millions of dollars in fresh media ad buys. The financial push comes as the country’s midterm elections sit less than a month away, aiming to support candidates perceived as favoring pro-digital asset policies in Washington.
Federal Election Commission (FEC) filings show a combined $2.7 million spent on media campaigns by the Defend American Jobs and Protect Progress PACs. The two prominent Fairshake affiliates reported these expenditures toward media and direct mail production to back both Democratic and Republican candidates running for seats in the US House of Representatives for the upcoming 2026 election cycle.
The reported expenditures include more than $76,000 allocated for House Majority Whip Tom Emmer, $73,000 for House Agriculture Committee Chair Glenn Thompson, $512,000 for California Representative Pete Aguilar, and $500,000 for New Jersey Representative Josh Gottheimer. These filings closely followed an announcement by Fairshake just days earlier detailing plans to endorse an additional 32 House candidates in 2026. This broader strategy includes six candidates slated to receive $1 million each in supportive media backing.
While none of the specific group of six newly announced million-dollar recipients were included in the immediate Defend American Jobs and Protect Progress expenditure batch, several incumbent lawmakers appeared on the roster, including Emmer, Aguilar, Gottheimer, and Thompson.
As of August, a spokesperson for Fairshake reported that the political action committee held an impressive $122 million in cash on hand. This massive war chest forms the cornerstone of its midterm election strategy, which focuses heavily on installing and retaining "pro-crypto" lawmakers in Congress. Part of this expansive strategy also involves actively opposing politicians deemed hostile to the sector. For instance, the PAC allocated at least $30 million for media buys aimed at opposing the election of former banking committee chair Sherrod Brown in Ohio’s high-stakes Senate race. While serving in office, Brown established himself as one of the leading Democratic voices voting consistently against numerous legislative bills viewed favorably by the broader cryptocurrency industry.
Crypto market structure bill to be a factor in 2026 midterms?
A common thread unites the primary targets of Fairshake’s recent spending spree: all of them voted in favor of the Digital Asset Market Clarity (CLARITY) Act in 2025. The legislation was designed to establish comprehensive market structure rules for the cryptocurrency industry, including granting federal commodities regulators—specifically the Commodity Futures Trading Commission—significantly more oversight authority and enforcement capabilities. Although the bill successfully passed through the House with notable bipartisan support, it ultimately failed to clear a critical procedural vote in the Senate last September.
In the wake of the failed CLARITY vote, Stand With Crypto, a prominent advocacy initiative launched by Coinbase that evaluates lawmakers and politicians based on their public statements and voting records regarding the digital asset industry, issued a stern warning. The organization cautioned that candidates who failed to help advance vital industry legislation could face political "consequences" in the midterms. The group is actively working to mobilize crypto-minded US voters for the upcoming elections, mirroring the aggressive grassroots and financial mobilization strategies deployed during the 2024 races.
Crypto Regulation & Policy
Crypto Regulation & Policy
Crypto Regulation & Policy
