Crypto-focused PAC Fairshake amasses $141 million war chest ahead of 2026 elections
Quick Take Fairshake said it has raised $109 million since the elections in November and $52 million during the first half of this year, in a statement released on Tuesday. Fairshake played a pivotal role during the election season last year as it spent millions backing pro-crypto candidates.
Crypto-focused political action committee Fairshake, along with several allied PACs, is gearing up ahead of next year’s midterm elections with a commanding $141 million war chest.
Fairshake said it has raised $109 million since elections in November and $52 million during the first half of this year, in a statement released on Tuesday.
"The voters last year were clear – Congress needs to stop playing politics with crypto and finally pass responsible regulation," said Josh Vlasto, spokesperson for Fairshake. "We are building an aggressive, targeted strategy for next year to ensure that pro-crypto voices are heard in key races across the country."
Fairshake played a pivotal role during the election season last year as it spent millions backing pro-crypto candidates. Fairshake and super PAC Defend American Jobs spent $40 million supporting Republican crypto-friendly candidate Bernie Moreno, who later clinched a win in November against crypto-critic Democrat Sen. Sherrod Brown.
Fairshake has received backing from web3-focused crypto venture firm a16z Crypto , Ripple , and Coinbase , among others. The funds are likely to play a significant role in midterm elections next year as the PACs throw their weight behind candidates who support crypto.
This comes as lawmakers in Washington prepare for what is expected to be one of the biggest weeks for digital asset legislation, with a stablecoin bill potentially reaching President Donald Trump's desk by Friday.
The House of Representatives will consider the Guiding and Establishing National Innovation for U.S. Stablecoins, or GENIUS, as well as the Digital Asset Market Clarity Act, or Clarity for short. Passage of those bills could unlock significant growth for the industry, Bitwise Chief Investment Officer Matt Hougan said in a note to clients.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Microsoft regrets its bet on "new cloud," intensifies scrutiny and exits some data center projects
Microsoft is tightening its oversight of "new cloud" computing power partners, withdrawing from high-risk projects and pausing the signing of new deals. Previously, Microsoft had committed a total of over $80 billion to partners such as Nscale, Nebius, CoreWeave, and IREN, but due to data center delivery delays, wiring faults, and regulatory pressure, these partnerships have become increasingly strained. Following the news, the stock prices of IREN and Nebius both dropped by more than 20% at one point.
A Different Approach! Under Regulatory Pressure, Nvidia Plans "Old Building Renovation" Data Center with a Capacity of 1 GW
Nvidia is targeting over 130 buildings owned by the near-bankrupt telecom company Brightspeed, partnering with private equity giant Apollo, to build a distributed AI inference network across 20 US states, with a total available power of about 1 GW. Renovating old buildings does not require new approvals from scratch, effectively bypassing new data center regulations being pushed by newly elected governors in multiple states. Server deployment is expected as early as Q1 2027, with target clients including SpaceX, Anthropic, and OpenAI.
After the Midterm Election Turbulence, the US Dollar Stabilizes: Strategists Say Core Support Remains, Options Market Signals Bullish Sentiment
Forex strategists say that although the US midterm election results briefly weighed on the dollar, the factors driving the dollar's strength over the past few months have remained largely unchanged.
Crypto prices
More
