COIN•COIN•Crypto groups have spent roughly $176 million across more than 100 midterm races to build a bipartisan coalition of congressional allies. Fairshake and its affiliate PACs accounted for about $150.8 million of spending through October 20.
Crypto groups have spent roughly $176 million across more than 100 midterm races this election cycle, seeking to elect candidates who can advance the industry's interests after President Donald Trump leaves office. Fairshake, the industry's largest super PAC, is leading the strategy again after spending $196 million in the 2024 election cycle; it said 53 of the 58 candidates it supported in primaries or special elections this year won.
Through October 20, Fairshake and its affiliate PACs had spent about $150.8 million on the midterms, while other crypto groups spent around $25 million. The PACs' leading financiers include Coinbase, Ripple and Andreessen Horowitz. The industry's main legislative goal is the Clarity Act, which would put crypto oversight under the Commodity Futures Trading Commission; the bill stalled this congressional session.
The industry has spent more than $68 million on the Ohio Senate race between Sherrod Brown and Republican Jon Husted. Fairshake also spent more than $10.1 million on ads opposing Illinois Lieutenant Governor Juliana Stratton and another $2.5 million opposing state Representative La Shawn Ford. The article describes the industry's spending as part of a longer-term effort to build relationships with elected officials and buffer itself against regulation.
