Crypto PAC Fairshake amasses $193 million war chest ahead of November midterms

Crypto-focused political action committee Fairshake, backed by heavyweights like Coinbase and Andreessen Horowitz (a16z), said it has more than $193 million in cash on hand as it heads into the 2026 midterms. 

This war chest includes a $25 million donation from Coinbase in 2025 and more recent contributions, including $25 million from Ripple and $24 million from a16z, Fairshake said in a statement on Wednesday. 

“With the midterms approaching, we are united behind our mission with Fairshake continuing to oppose anti-crypto politicians and support pro-crypto leaders," Fairshake said. "The time is now to protect consumers, cultivate American innovation, and open up the financial system to more Americans.”

Fairshake played a pivotal role during the election season last year as it spent millions backing pro-crypto candidates. Fairshake and super PAC Defend American Jobs poured $40 million into supporting Republican crypto-friendly candidate Bernie Moreno, who later clinched a win in November against crypto-critic Democrat Sen. Sherrod Brown. Money from a16z, Coinbase, and Ripple are likely to play a significant role in midterm elections later this year. 

Talks in the Senate splintered over the past month after hearings to amend and vote on crypto legislation to regulate the industry at large were delayed. The Senate Banking Committee postponed its hearing at the eleventh hour after Coinbase pulled its support, citing concerns around tokenized equities and the looming issue of stablecoin rewards. The treatment of stablecoin yield is set to be discussed at a White House meeting on Monday. 

Meanwhile, the Senate Agriculture Committee is set to hold its hearing on Thursday.