53 of 58 Fairshake-Backed Candidates Advance in U.S. Midterms

Crypto-focused political spending has reached about $176 million across more than 100 U.S. midterm contests, while 53 of 58 candidates backed by Fairshake have advanced.

Fairshake, a super PAC with support from Coinbase, Ripple and a16z, led the crypto industry’s election-cycle spending. Its backing went to 58 candidates in primary or special elections; 53 have advanced.

The broader effort is intended to build support for the industry’s priorities across party lines in Congress over several years, including after Trump leaves office. Its strategy centers on candidates viewed as competitive.

Ads placed through PACs affiliated with the effort often avoid direct references to crypto. The campaign also seeks lasting political ties and clearer regulation for the industry.