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Crypto PAC Amasses $116M for 2026 Midterms

Coin WorldFriday, Jan 31, 2025 6:20 am ET

1min read

Fairshake Super PAC, a pro-crypto political action committee, has amassed a substantial $116 million fund to influence the 2026 U.S. midterm elections. Major backers, including a16z, Coinbase, and Ripple, have increased their contributions, bolstering Fairshake's financial clout.

The political landscape has shifted since Kamala Harris, who initially hesitated to embrace digital assets, positioned herself as a pro-crypto candidate. Although some opponents remain, anti-industry sentiment in Congress has noticeably decreased. Fairshake, known for its heavy spending in elections, is preparing for the upcoming midterms, having started accumulating funds soon after Donald Trump's presidential win in November 2016. A16z's $25 million donation pushed the total to $103 million, with more contributions continuing to roll in.

Election campaigns are expensive, and Fairshake is expected to invest heavily in the 2026 midterms. During the 2024 election cycle, the PAC spent approximately $180 million to influence races. The midterms are expected to be just as competitive, making Fairshake's growing war chest crucial. In the past, Fairshake has supported candidates like Bernie Moreno and has reaffirmed its commitment to backing candidates who promote innovation, economic growth, and balanced regulation.

Coinbase and other previous donors have doubled their financial support, while companies like Ripple and Uniswap have also contributed new funding. However, the key question remains: which candidates will Fairshake challenge? The crypto industry now holds a strong position in U.S. elections, and Fairshake could fund candidates to challenge prominent industry critics like Senator Elizabeth Warren, who continues to oppose Trump's crypto policies. Another strategy might involve keeping Republican lawmakers in check, ensuring they stay loyal to the industry.

With nearly two years until the midterms, Fairshake has time to plan its approach. Whether it focuses on defeating crypto opponents or reinforcing its influence within the GOP, the PAC is positioned to be a major player in shaping the 2026 elections.

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