Fairshake backs 32 House candidates with $1 million each for six

Crypto super PAC Fairshake announced on 5 October 2026 it will give $1 million each to six House candidates — three Republicans and three Democrats — as part of a spending effort spanning 32 campaigns. The group named 19 Republican and 13 Democratic House candidates in its latest spending tranche, one month before the 2026 midterms.rollcall.com

The announcement matters because it redirects the industry's money from legislation to elections. The House passed a digital assets markets bill in July 2025, but the measure stalled in the Senate for more than a year and was blocked last month on a bipartisan procedural vote. After that defeat, Fairshake turned to this fall's races to bolster pro-crypto candidates and defeat perceived opponents.ijr.com

Why the spending follows the Senate defeat

Democrats and Republicans could not agree on ethics guardrails meant to stop public officials from enriching themselves through crypto ventures, among other aspects of the legislation. The Senate blocked the bill last month. The House-passed bill would have set rules for the operations and oversight of digital assets markets, a framework crypto firms wanted to spur growth of blockchain finance.

Fairshake is giving $1 million each to three senior House Financial Services Committee Republicans: French Hill of Arkansas, the full committee chairman; Bryan Steil of Wisconsin, chairman of the Digital Assets, Financial Technology and Artificial Intelligence Subcommittee; and Bill Huizenga of Michigan, the committee's vice chair. All three have played prominent roles in congressional debates over cryptocurrency regulation.

The three Democrats receiving $1 million each are Janelle Bynum of Oregon, Steven Horsford of Nevada and Derek Tran of California. Horsford helped advance bipartisan cryptocurrency tax legislation, and Tran and Bynum hold strong digital asset policy ratings from Stand With Crypto. Bynum, who won her Oregon seat two years ago, backed crypto legislation during her first term.

Who receives the $1 million checks

Beyond the six $1 million recipients, Fairshake named incumbents including Democratic Caucus Chair Pete Aguilar of California, Budget ranking member Brendan F. Boyle of Pennsylvania, Majority Whip Tom Emmer of Minnesota, GOP Conference Chair Lisa McClain of Michigan, Ways and Means Chairman Jason Smith of Missouri, and Agriculture Chairman Glenn "GT" Thompson of Pennsylvania.

Fairshake spokesperson Geoff Vetter did not say how much the group will spend on the 32 races beyond the six $1 million gifts. The political action committee held $108 million at the end of August, according to the Federal Election Commission. Vetter called Fairshake an issue-focused organisation that supports candidates on both sides depending on their crypto orientation.

How much Fairshake has to spend

Vetter wrote in an email that Fairshake backs "pro-crypto candidates who support American innovation in both parties." He added: "We've won 53 of the 57 races we engaged in this cycle and look forward to continuing to build on the largest pro-crypto caucus in American history." Fairshake is funded primarily by Coinbase, Ripple and Andreessen Horowitz.econotimes.com

Fairshake also plans nearly $30 million opposing former Senator Sherrod Brown's attempted return to the Senate, with a separate PAC started by Tyler and Cameron Winklevoss adding roughly $3 million against Brown. The group conducts its spending independently of candidate campaigns, mainly through advertising aimed at voters before the November elections.

The Federal Election Commission figure of $108 million at the end of August is the number. Fairshake's endorsements span committees expected to shape crypto policy, including House Financial Services and Ways and Means, with members of the Agriculture, Judiciary and Science committees also represented. The industry's legislative path narrowed further after the GENIUS Act covering stablecoins passed, while the Digital Asset Market Clarity Act failed last month.

The spending lands one month before the 2026 midterms, with Fairshake buying advertising designed to influence voters ahead of the November elections. Vetter said the group aims to help establish what he called the largest pro-crypto caucus in American history, building on 53 wins in 57 races engaged in this cycle.