Fairshake, the pro-crypto super PAC, currently has $116 million to influence elections in the 2026 US midterms. Several major donors who supported this effort during the 2024 elections have redoubled their donations.
At the moment, it doesn’t seem clear which senates will become the highest-priority targets. Since Kamala Harris endorsed crypto and lost, anti-industry sentiment has been much quieter in Congress, but a few opponents remain in power.
Fairshake Stockpiles for the Midterms
Fairshake, the pro-crypto Super PAC, is stockpiling resources for the midterms in 2026. According to a report from CNBC, the group currently has a war chest of $116 million to compete in these races.
Right after Trump won the Presidential election in November, a16z donated $25 million for this purpose, and other donations brought the total to $103 million.
However, more donations are likely. Elections can be very expensive in the current US political environment. In the 2024 cycle, Fairshake spent around $180 million to influence national races, and the midterms will be just as important.
In addition to electing President Trump, Fairshake’s political contributions also helped down-ballot candidates like Bernie Moreno.
“With the midterms on the horizon, we are poised to continue backing candidates committed to advancing innovation, growing jobs, and enacting thoughtful, responsible regulation,” Fairshake said in a statement.
Previous Fairshake donors, such as Coinbase, doubled down on their support, building new reserves for the midterms. According to CNBC, several additional big-name supporters like Ripple and Uniswap have provided new contributions for this purpose alone.
However, this does beg one question: who are they going to challenge with this money?
Crypto Industry Holds the Cards in US Elections
In the last Presidential election, Kamala Harris was more reluctant to embrace crypto than Donald Trump, but she eventually ran as a pro-crypto candidate.
Indeed, she even received high-level donor support from influential figures in the space, albeit less than Trump. If the Democrats continue their reconciliation with crypto into the midterms, who will Fairshake target?
There are some candidates that come to mind. First of all, a few outspoken crypto opponents like Senator Elizabeth Warren remain in Congress and continue to rail against Trump’s policies.
Since launching the TRUMP meme coin, several Representatives have called for a probe into possible criminal activity. Fairshake could fund races against these figures in the midterms.
However, there is another possible option. The Republicans have generally coalesced around Trump’s pro-crypto messages, but there are complications.
For example, a few elected officials have vocally supported the industry since the election despite opposing it beforehand. The threat of Fairshake spending could keep the half-hearted converts in line.
Ultimately, the midterms are nearly two years away, and Fairshake will have ample time to prepare. Regardless of which races take the highest priority, the super PAC will be ready to influence them.
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