Fairshake Network Spent About $154.5 Million as Backed Candidates Won 86 Races

Fairshake and two affiliated committees spent about $154.5 million on independent expenditures across 93 U.S. midterm contests, with backed candidates winning 86 races. The results give a measure of the crypto-focused network’s reach in elections across both major parties.

The groups — Fairshake, Protect Progress and Defend American Jobs — went 53-4 in primaries, including 28-0 in Republican primaries. Their candidates went 33-3 in general elections, bringing the overall record to 86 wins and seven losses, or about a 92% success rate.

Related independent expenditures in support of Nebraska Sen. Pete Ricketts topped $13 million. Andy Barr won Kentucky’s Senate seat.

In Ohio, Defend American Jobs spent about $56.6 million backing Sen. Jon Husted, but former U.S. Sen. Sherrod Brown won. Brown’s Ohio victory over Husted was one of the network’s losses. Reps. Bryan Steil and Bill Huizenga also lost their reelection bids.

Fairshake is an independent-expenditure-only super PAC. Its political communications support candidates without coordination with candidates, campaigns or parties, and the spending does not go directly to campaign accounts. The committees support candidates from both major parties who favor crypto industry policies.