Source: Cointelegraph Original: "{title}"
The political action committee (PAC) Fairshake may contribute to the success of many candidates supporting pro-cryptocurrency views in the 2024 U.S. elections. The committee has reported holding over $116 million in funds to influence the outcomes of the 2026 midterm elections.
Fairshake stated in a notice on January 30 that it has received over $11 million in donations from unnamed sources, which have not yet been reported to the Federal Election Commission (FEC) as of the time of publication. However, the PAC's most notable donors include Ripple Labs, Coinbase, venture capital firm Andreessen Horowitz, and Jump Crypto.
"Our foot has been on the gas," said Fairshake spokesperson Josh Vlasto. "With the midterm elections approaching, we are ready to continue supporting candidates committed to driving innovation, increasing jobs, and crafting thoughtful, responsible regulations, while opposing those who play politics and hinder voter support for cryptocurrency."
According to the advocacy group Stand With Crypto, which also aims to influence U.S. voters in 2024, approximately 270 lawmakers in the 119th Congress "support cryptocurrency," with the Republican Party holding a majority in both the House and Senate. Documents from the Federal Election Commission show that Fairshake spent about $131 million supporting candidates in the 2024 primaries and general elections, many of whom ultimately won their seats.
It remains unclear what impact the millions of dollars provided by the cryptocurrency industry through political action committees will have on the 2026 U.S. midterm elections. Many experts believe that Fairshake's affiliate, Defend American Jobs, spent over $40 million on advertising to support Republican Bernie Moreno's campaign for U.S. Senate in Ohio, which may be one reason for the potential defeat of incumbent Senator Sherrod Brown.
Related report: Cryptocurrency PAC-supported candidates win Florida congressional primaries
The Republicans currently hold a majority in the House with 218 votes to 215, with two vacant seats in Florida, and a majority in the Senate with 53 votes to 47. Although many lawmakers state that they do not view cryptocurrency legislation as a partisan issue, whichever party controls both chambers can effectively set the two-year agenda.
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