Fairshake And Affiliates Spent $150.8 Million Through Oct. 20

Fairshake and its affiliated political action committees have spent about $150.8 million through Oct. 20, making them the dominant force in a $176 million crypto-aligned effort across U.S. midterm races.

Fairshake and affiliated political action committees spent about $150.8 million through Oct. 20. Other crypto groups accounted for about $25 million. Coinbase, Ripple and Andreessen Horowitz are the effort’s primary financiers.

The spending is aimed at building bipartisan support for the industry’s agenda that can last beyond President Donald Trump’s time in office. That effort was detailed in an earlier tally of Fairshake-backed candidates.

Fairshake spent $196 million in the 2024 election cycle and is directing the effort again. The group said 53 of the 58 candidates it backed in primaries or special elections won; those candidates are set to appear on the ballot Tuesday, Nov. 3.

Super PACs can raise and spend unlimited amounts but cannot coordinate with campaigns. Fairshake places ads through affiliates including Defend American Jobs and Protect Progress. The ads often focus on taxes and immigration rather than crypto.

The industry’s policy agenda includes the Clarity Act, which would place oversight of the crypto sector under the Commodity Futures Trading Commission. Enacted in 2025 with bipartisan backing, the GENIUS Act established a federal framework for stablecoins.

Colin McLaren, head of government relations at the Solana Policy Institute, called the spending “an investment in the future.” The institute has contributed $4.9 million to the midterms.