Well before the rest of the congressional election machinery has begun to move in earnest on 2026 contests, the crypto sector is again ready for outsized spending to get more friends in Congress, thanks in part to a new $25 million influx from Coinbase.
The crypto sector demonstrated last year how potent a force it could be in U.S. congressional elections, with its political action committee Fairshake and its affiliates spending about $139 million to elect as many as 53 lawmakers it could count on to vote for friendly crypto policies. About one in ten sitting members of Congress benefited from the industry’s campaign spending.
Thanks to post-cycle additions from the super PAC’s chief benefactors — Coinbase, Ripple and a16z — the campaign fund had exited 2024 with more than $100 million more to spend next time. That number is now up to $141 million, again assuring Fairshake a role as one of the most influential campaign-finance forces in next year’s elections well before the year begins.
“The voters last year were clear: Congress needs to stop playing politics with crypto and finally pass responsible regulation,” said Josh Vlasto, a spokesperson for Fairshake, who added that the PAC is focused on an “aggressive, targeted strategy for next year to ensure that pro-crypto voices are heard in key races across the country.”
On its own, Coinbase has now contributed a total of about $100 million to the PAC, and the U.S. exchange is poised — alongside its corporate peers — to potentially watch a bill sail through the U.S. House of Representatives this week that would establish the U.S. legal foundation for digital assets activity that the company has been eager to obtain.
Fairshake — along with its party-focused affiliates Defend American Jobs and Protect Progress — boosted congressional candidates from both parties, as long as the people favored industry-friendly policy advances. As a super PAC, it purchases advertising at an independent level, without campaign involvement. And though its single focus is elevating digital assets, it rarely mentions the industry in its advertising, instead arguing whatever political points the group views will most effectively help the favored candidates win their races.
The group’s carrot-and-stick strategy relies not only on its ability to spend major amounts on each race, but on candidates who strongly oppose crypto realizing they’ll also face potential well-funded opposition.
The PAC has continued to flex its muscles in special elections in recent months, adding to its roster of allies through races in Florida and Virginia.
Read More: Fairshake: Crypto Titans Use Old-School Dollars to Turn Tide in Congress
