Fairshake Gears Up for 2026 Elections with $116M in Funds
Industry giants demonstrate unprecedented financial commitment, with Coinbase pledging $100M total and a16z contributing $70M across election cycles.
Crypto PACs have transformed from industry outsiders to major political players, accounting for half of all corporate political donations.
Strategic partnerships with former politicians and campaign managers signal deepening integration of crypto influence in Washington’s power structure.
Fairshake, a cryptocurrency super political action committee (PAC) is preparing for a high-stakes battle in the 2026 US midterm elections with $116 million in cash reserves, CNBC Thursday. The PAC has rapidly grown into one of the most influential forces in Washington, aiming to reshape regulations in favor of digital assets.
According to the report, Fairshake’s latest funding round includes $11 million in new contributions from Coinbase, Ripple, Andreessen Horowitz (a16z), Uniswap Labs, and Superstate founder Robert Leshner. These firms, along with Jump Crypto, have also made additional pledges to the committee, ensuring a formidable financial presence in the upcoming elections.
Crypto’s Rising Political Power
The influx of cash cements crypto’s political influence at a level once dominated by Wall Street, Big Tech, and the defense industry. Since 2024, Coinbase alone has a total of $75 million into Fairshake and affiliated PACs. The exchange has also pledged to donate another $25 million for 2026.
Similarly, a16z has contributed around $70 million across multiple election cycles, with $23 million allocated for the 2026 midterms. Ripple, which remains locked in a high-profile legal battle with the Securities and Exchange Commission (SEC), has $50 million to Fairshake, evenly split between 2024 and 2025.
With such deep-pocketed backers, Fairshake now boasts a war chest that rivals major lobbying groups, reinforcing crypto’s emergence as a major political force. The super PAC plans to use the fresh fund to support crypto-friendly candidates in key congressional races during the midterms.
“With the midterms on the horizon, we are poised to continue backing candidates committed to advancing innovation, growing jobs, and enacting thoughtful, responsible regulation,” Fairshake said.
“With the midterms on the horizon, we are poised to continue backing candidates committed to advancing innovation, growing jobs, and enacting thoughtful, responsible regulation,” Fairshake said.
Since its launch, Fairshake’s primary goal has been to elect crypto-friendly candidates who will push for industry-friendly regulation.
The PAC has already shown its ability to tip the scales in crucial races, having over $12 million to support Bernie Moreno’s successful campaign against Ohio Senator Sherrod Brown in the last election cycle.
In total, crypto PACs spent over $245 million during the 2024 elections, accounting for nearly half of all corporate political donations, according to Federal Election Commission (FEC) data. This level of spending underscores how digital asset firms have evolved from industry outsiders to major power players in Washington.
Congress Turns Up Heat on the SEC
Meanwhile, the industry’s growing influence comes at a time when the political landscape is shifting. Under President Donald Trump’s new administration, crypto firms have gained unprecedented access to key regulatory decision-makers.
Notably, former Senator Kyrsten Sinema (I-Ariz.) has Coinbase’s Global Advisory Council, reinforcing her continued support for crypto-friendly legislation.
Additionally, Chris LaCivita, President Trump’s 2024 co-campaign manager, has also taken a role on the council, further strengthening the industry’s influence within the administration.
Lawmakers aligned with crypto interests have also turned the tables on regulators. Congressional committees are now investigating agencies like the SEC for alleged overreach, marking a dramatic reversal from just a few years ago, when the industry was on the defensive.
The House Oversight and Accountability Committee, led by Chairman James Comer (R-Ky.), is currently allegations that federal agencies have been involved in “debanking” crypto native companies.