Fairshake, the super PAC funded by major players in the crypto industry, revealed on Thursday that it holds $116 million in cash reserves, positioning itself for the 2026 midterm election cycle. This fundraising achievement, which includes $11 million in fresh contributions, solidifies Fairshake’s status as a significant political entity in the nation.
In a statement, Fairshake expressed readiness to continue supporting candidates dedicated to promoting innovation, job growth, and implementing sensible regulations as the midterm elections approach. Notable supporters such as Coinbase, a16z, Jump Crypto, Uniswap Labs, Ripple Labs, and Superstate’s Robert Leshner have reaffirmed their commitment to endorsing pro-crypto candidates and opposing those perceived as unfriendly to the industry.
The crypto industry, once viewed as a speculative craze, now wields substantial influence in the political landscape of President Donald Trump’s Washington. Officials backed by the industry are securing positions in the president’s administration and various federal bodies. Legislators aligned with digital assets are initiating investigations into regulators accused of impeding innovation.
With Trump’s potential return to the presidency and a Congress controlled by Republicans, the industry is transitioning from a defensive stance to actively shaping policies. Advocates for crypto are driving efforts to reverse SEC enforcement actions, ease anti-crypto banking regulations, and promote legislation on market structures for digital assets.
Coinbase, the largest U.S. crypto exchange, faced a lawsuit from the Securities and Exchange Commission for alleged unregistered securities sales. Despite this, it remains a top contributor to Fairshake, having donated over $75 million in 2024 and committing an additional $25 million for the 2026 midterms. Other major donors to Fairshake include Andreessen Horowitz, which pledged $23 million, and Ripple Labs, contributing around $50 million this cycle.
The impact of this financial support extends beyond elections, as the crypto industry, with its significant market capitalization and lobbying power, has established itself as a potent force in Washington. By aligning with allies, mitigating threats, and securing legislative victories, the industry aims to shape its future trajectory.
For crypto stakeholders, the 2024 election was pivotal, representing an opportunity to redefine the industry’s narrative after years of battling for legitimacy amid regulatory challenges. Crypto-related PACs and affiliated groups amassed over $245 million for the 2024 election cycle, with nearly half of corporate contributions originating from the crypto sector.
Stand With Crypto Alliance, spearheaded by Coinbase, played a crucial role by evaluating House and Senate races and directing funds strategically to key battlegrounds. This approach led to a significant presence of pro-crypto lawmakers in Congress, granting the industry unprecedented influence over legislative decisions.
The industry’s strategy involved raising substantial funds from a select group of donors, saturating battleground regions with advertisements, and supporting pro-crypto candidates while opposing adversaries. By swiftly deploying resources and learning from the experiences of Big Tech, the crypto sector ensured that potential threats were addressed before they could impact policymaking.
