With the United States midterm elections now less than a month away, affiliate entities of Fairshake—the prominent political action committee backed by major industry heavyweights including investment banking company Cantor Fitzgerald, cryptocurrency exchange Coinbase, and Ripple Labs—have reported millions of dollars in fresh ad buys designed to support candidates they consider supportive of pro-digital asset policy.
According to filings submitted to the US Federal Election Commission (FEC) on Saturday, a combined $2.7 million in media spending was deployed by the Defend American Jobs and Protect Progress PACs. These two key Fairshake affiliates reported expenditures directed toward media campaigns and direct mail productions aimed at backing both Democratic and Republican candidates running for seats in the US House of Representatives ahead of the 2026 midterms.
The newly revealed expenditures include substantial financial allocations, featuring more than $76,000 designated for House Majority Whip Tom Emmer, roughly $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 FEC disclosures follow closely on the heels of an announcement made by Fairshake just days prior, detailing its broader strategic plans to endorse an additional 32 House candidates in the 2026 cycle. This strategy includes six specific campaigns slated to receive $1 million each in supportive media backing. While none of those six high-allocation candidates were explicitly listed in the immediate Defend American Jobs and Protect Progress expenditure reports filed over the weekend, several notable congressional incumbents appeared on both lists, including Emmer, Aguilar, Gottheimer, and Thompson.
As of August, a spokesperson for Fairshake reported that the political action committee held an impressive war chest of $122 million in cash on hand. This massive financial reserve forms the bedrock of the PAC’s comprehensive midterm election strategy, which centers on attempting to secure a larger contingent of "pro-crypto" lawmakers in Congress. This aggressive electoral strategy has also manifested in significant opposition efforts, such as the PAC’s campaign against the reelection of former Senate Banking Committee Chair Sherrod Brown in Ohio’s high-profile Senate race, where at least $30 million has been allocated for targeted media buys. During his time in office, Brown established himself as one of the leading Democratic voices voting consistently against legislative measures viewed as favorable to the broader cryptocurrency industry.
Crypto market structure bill to be a factor in 2026 midterms?
A common thread linking all the legislative targets of Fairshake’s recent spending spree is their voting record regarding the Digital Asset Market Clarity (CLARITY) Act in 2025. The landmark bill was designed to establish comprehensive market structure rules for the entire cryptocurrency industry, which would notably include granting the federal commodities regulator, the Commodity Futures Trading Commission, expanded authority to oversee and enforce digital asset regulations. Although the legislation successfully passed the House with notable bipartisan support, it ultimately failed to clear a critical procedural vote in the Senate last September.
In the wake of that legislative setback, Stand With Crypto—an advocacy initiative launched by Coinbase that systematically ranks lawmakers and politicians based on their public statements and voting records concerning the digital asset sector—issued sharp warnings. The organization cautioned that political candidates who failed to advance crucial industry legislation could face political "consequences" in the upcoming midterms. The group is actively working to mobilize crypto-minded US voters for the approaching election, echoing the voter mobilization tactics it deployed during the 2024 race cycle.
Crypto Regulation & Policy
Crypto Regulation & Policy
Crypto Regulation & Policy
