Fairshake crypto PAC network backs 32 House candidates in midterms

• Fairshake is committing at least $1 million each to support six House incumbents, including key committee leaders like House Financial Services Committee Chair French Hill and digital-assets subcommittee leader Bryan Steil
• All 32 endorsed candidates voted for the CLARITY Act when it passed the House 294-134 in July 2025, a bill that would shift crypto oversight from the SEC to the CFTC and establish clearer token trading rules
• The network has already spent $71 million across 57 primaries and special elections this cycle with a 93% win rate (53 of 57 races), and nearly $30 million opposing Democratic Senate nominee in Ohio

Summary: Fairshake Crypto PAC Network Backs 32 House Candidates in Midterms

Key Development:

Fairshake, the cryptocurrency industry's largest political spending network, announced support for 32 House incumbents in the upcoming November midterm elections—19 Republicans and 13 Democrats—marking its first major general-election push this cycle.

Financial Commitment:

• At least $6 million committed across six races, with $1 million each for Reps. Janelle Bynum (D-OR), Steven Horsford (D-NV), Derek Tran (D-CA), French Hill (R-AR), Bill Huizenga (R-MI), and Bryan Steil (R-WI)
• The network entered September with approximately $120.4 million cash on hand across Fairshake and affiliates Protect Progress (Democrat-focused) and Defend American Jobs (Republican-focused)
• Previously spent $71 million across 57 primaries and special elections, winning 53 races
• Already deployed nearly $30 million targeting Democratic Senate nominee in Ohio

Industry Backers:

Major supporters include Coinbase, Ripple, and venture capital firm Andreessen Horowitz.

Legislative Context:

The spending follows the Senate's failure to advance the CLARITY Act, the crypto industry's signature market-structure bill, which passed the House 294-134 in July 2025. All 32 endorsed candidates voted for this legislation, which would:

• Establish clearer token issuance and trading rules
• Shift digital asset oversight from the SEC to the CFTC
• Reduce securities-law enforcement risks

Strategic Positioning:

Key beneficiaries include influential committee leaders: Hill (House Financial Services Committee Chair), Huizenga (Vice Chair), and Steil (Digital Assets Subcommittee Chair), positioning them to shape crypto regulation in the next Congress.

The campaign underscores the crypto industry's bipartisan approach to securing favorable regulatory outcomes as legislative priorities remain unresolved.