- Crypto super PAC Fairshake has raised over $140 million ahead of the 2026 midterms, including $25 million from Coinbase.
- The PAC network spent $135 million in 2024, helping elect pro-crypto candidates and defeat critics.
- Fairshake backs both parties, focusing on candidates who support crypto innovation and regulatory clarity.
The cryptocurrency industry is already gearing up for the midterm elections next year. According to a report from Eleanor Terrett, the industry’s largest super PAC, Fairshake, has already raised millions of dollars in anticipation of the upcoming election.
Over $52 million was raised during the first half of 2025, including a single $25 million donation from Coinbase. The sum adds up to the $109 million raised since the 2024 Presidential election. In total, Fairshake and other crypto PACs have raised over $140 million in cash on hand.
“Fairshake is stronger than ever as we remain focused on our mission of building lasting support for crypto and blockchain innovation,” Spokesman Josh Vastloy said in a statement.
Last November’s election was deemed the first time the cryptocurrency industry had an impact on the outcome. At the time, the so-called “crypto voting bloc” voted massively under Trump, ultimately helping the Republican get to the White House.
Crypto firms like Coinbase, Kraken, Gemini, and others donated millions of dollars to Fairshake. The XRP issuer Ripple Labs also donated to crypto PACs, while its co-founder Chris Larsen notably donated over $11 million to Kamala Harris’s campaign, making one of the few standouts in the industry backing the Democratic candidate.
What is Fairshake?
Fairshake is a crypto-backed super PAC, i.e., a political action committee that raises funds to support or oppose political candidates. The super PAC was created in 2023 by industry leaders like Coinbase, Ripple Labs, Andreessen Horowitz, and Uniswap to back candidates that advocate for cryptocurrency innovation and clearer regulations.
While they certainly hold a lot of influence in voters’ decision-making, Super PACs cannot directly donate to a candidate’s campaign. Rather, they influence elections by investing in things like advertisements, outreach efforts, or content production.
Despite the crypto industry’s perceived alignment with Republican candidates in the 2024 election, Fairshake actually operates non-partisanly, backing both Democrats and Republicans who support crypto-friendly policies.
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