Crypto PAC Fairshake raises $116 million for 2026 midterms with backing from major industry players: reports

Quick Take

  • Jump Crypto gave $10 million toward Fairshake for congressional races next year, according to reporting from Politico.
  • Uniswap Labs and Superstate founder Robert Leshner have also donated to the PAC, according to Axios

Crypto-focused political action committee Fairshake is gearing up for the 2026 midterms with $116 million at the ready, according to multiple reports. 

Coinbase, Ripple and Andreessen Horowitz have committed more than $20 million and recently $10 million from Jump Crypto for congressional races next year, according to a report from Politico on Thursday. 

Uniswap Labs and Superstate founder Robert Leshner have also donated to the PAC, according to Axios

Fairshake raised over $200 million in the election cycle and received funding from major crypto companies and investment firms, including Coinbase and Andreessen Horowitz. The super PAC said it "supports candidates solely through its independent activities" and supports candidates who want to make the U.S. home to innovators. 

Fairshake was pivotal in a key Senate race in November in Ohio. Fairshake and super PAC Defend American Jobs spent $40 million supporting Republican crypto-friendly candidate Bernie Moreno, who later clinched a win in November against crypto-critic Democrat Sen. Sherrod Brown.

Moreno has since been assigned and joined the Senate Banking Committee. That committee's chair, Sen. Tim Scott (R-S.C.), has set his sights on crypto, which is significant since his committee holds the purse strings for legislation to be brought up, such as crypto bills. Earlier this month, Scott created a digital asset-focused panel led by Sen. Cynthia Lummis (R-Wyo.) Moreno is also a member of that panel. 


CLARIFICATION (Jan. 30, 17:00 UTC): As a political action committee, Fairshake paid for advertising advocating for Sen. Moreno and did not donate directly to his campaign. As well, the amount given by Fairshake and Defend American Jobs was added to this piece. 


Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Sarah is a reporter at The Block covering policy, regulation and legal happenings. Before, Sarah was a reporter with CQ Legal writing about securities regulation, which is where she first started reporting on crypto. Sarah has also written for The Bond Buyer and American Banker, among other finance-related publications. She graduated from the University of Missouri and earned a degree in print and digital journalism. Sarah is based in Washington D.C., and is an avid coffee lover. You can follow her on Twitter @ForTheWynn.

Editor

To contact the editor of this story:
Lawrence Lewitinn at
[email protected]

WHO WE ARE

The Block is a news provider that strives to be the first and final word on digital assets news, research, and data.

+ Follow us on Google News
Connect with the block on