Crypto PACs Spend $7.2 Million to Influence Races in Five US States

Fairshake, the crypto-focused super PAC funded largely by Coinbase, Ripple and a16z, has used bipartisan election spending to build a bloc of lawmakers receptive to digital-asset policy. Its support can matter for legislation covering market structure, stablecoins and regulatory jurisdiction. The group’s primary record has therefore become a measure of whether the industry can convert its fundraising power into durable influence in Congress.

Massachusetts Representative Jake Auchincloss won the Democratic primary for the state’s 4th Congressional District on Sept. 1, defeating Jason Poulos with about 73% of the vote and advancing to the Nov. 3 general election. Protect Progress, a Fairshake affiliate, spent more than $189,000 on media supporting the incumbent. With U.S. primaries winding down, Fairshake is turning to the fall campaign with $122 million in cash available for congressional races.

Fairshake, a political action committee backed by the cryptocurrency industry, emerged as a major force in US elections after spending more than $130 million on advertising and media during the 2024 cycle. Its affiliate Protect Progress has continued supporting congressional candidates in 2026, but the comparatively modest outlay in one Massachusetts district marks a narrower intervention and renews scrutiny of the industry’s influence over lawmakers and digital-asset policy.

Federal Election Commission records as of Sept. 1, 2026, showed Protect Progress spent just over $189,000 to support Representative Jake Auchincloss’s reelection in Massachusetts’ 4th congressional district. Democratic challenger Jason Poulos said some of the money funded AI-generated campaign mailers and, in an Aug. 16 letter, urged Auchincloss to publicly renounce the group’s involvement. Poulos also alleged that Auchincloss had directly received $77,500 from crypto-industry sources since 2020.

Fairshake, the crypto-industry super PAC network backed by Coinbase, Ripple and Andreessen Horowitz, has spent across party lines through affiliates including Protect Progress, its Democratic-facing arm. The groups aim to elect candidates friendly to digital-asset legislation, making their 2026 midterm campaign a test of whether a large industry war chest can translate into durable influence over Congress and rules governing crypto markets.

In the Aug. 18 primaries, several Fairshake-backed candidates won or advanced, but Protect Progress failed in Florida’s 24th Congressional District. Miami-Dade Commissioner Oliver Gilbert captured the Democratic nomination despite $2,056,911 in opposition spending by the group. The Miami Herald said the PAC’s ads repackaged three of its articles with fabricated headlines to suggest Gilbert supported President Donald Trump’s hard-line immigration policies. The loss underscored the limits of outside spending even as Fairshake scored victories elsewhere.

Fairshake and its affiliates, Protect Progress and Defend American Jobs, are funded by major crypto companies including Coinbase and Ripple Labs. The network is seeking to build a bipartisan bloc in Congress that favors clearer rules for digital assets. Its spending matters because the next Congress will shape the fate and implementation of market-structure legislation, including the Digital Asset Market Clarity Act, or CLARITY Act, which would clarify federal oversight of crypto markets.

After Protect Progress spent about $1 million backing incumbent Democratic Representative Shri Thanedar in Michigan, Thanedar lost the Aug. 4 primary. Fairshake and its allied groups have now shifted to congressional contests in Florida, Alaska and Wyoming, committing more than $1.5 million to advertising ahead of all three states’ Aug. 18 primaries. The buys largely support bipartisan House and Senate candidates who previously voted for the CLARITY Act, underscoring the industry’s effort to reward lawmakers aligned with its regulatory agenda.

Fairshake has emerged as the cryptocurrency industry’s leading election vehicle, using support from Coinbase, Ripple Labs and Andreessen Horowitz to back congressional candidates from both parties who favor digital-asset legislation. The super political action committee said in January 2026 that it controlled a $193 million war chest, underscoring the sector’s push to shape lawmakers and secure clearer US rules for crypto markets, stablecoins and blockchain businesses.

Republican Bill Huizenga and Democrats Suzan DelBene, Kim Schrier and Marilyn Strickland advanced in Michigan and Washington primaries held on Aug. 4. The results extended Fairshake’s record of helping crypto-friendly incumbents and candidates, although its network suffered a notable setback in Michigan’s 13th District: Donavan McKinney defeated Shri Thanedar despite Fairshake affiliate Protect Progress spending more than $986,000 on advertisements supporting Thanedar and opposing McKinney.

Fairshake, a crypto industry-backed super PAC, has emerged as a major force in US elections by supporting candidates viewed as favorable to digital-asset policy. Its Democratic-focused affiliate, Protect Progress, spent about $1 million backing Representative Shri Thanedar in 2024, when he won his primary with 54.9% of the vote. The group’s renewed involvement underscores the industry’s effort to build support in Congress across party lines.

Federal Election Commission data available as of July 20, 2026, showed Protect Progress had spent more than $986,000 on advertising to support Thanedar and oppose challenger Donavan McKinney in Michigan’s 13th Congressional District. McKinney accused the crypto lobby of trying to sway the August 4 Democratic primary. Fairshake and its affiliates have reported $191 million in reserves for key races during the 2026 election cycle.

U.S. consumer advocacy group Public Citizen says cryptocurrency companies are seeking to influence the 2026 U.S. elections through political donations in pursuit of a more favorable regulatory and legislative environment. The money is flowing mainly to super political action committees such as Fairshake and MAGA Inc., underscoring the industry’s emergence as a major force in election financing.

A new Public Citizen report shows that the crypto industry has contributed a total of $189 million at this stage of the 2026 election cycle, accounting for 37% of all corporate political donations. Channeled through groups including Fairshake and MAGA Inc., the funds are targeting the U.S. midterm elections scheduled for November 3, 2026, as well as related political activities.

The U.S. crypto industry has increasingly sought to influence congressional elections through Fairshake and its affiliated political action committees, backing candidates with industry-friendly positions. Primaries can effectively decide seats in safe districts, so the spending could reshape the Congress taking office in January 2027. It has also fueled a backlash among Democrats against outside financial support.

New York, Maryland and Utah held primaries on June 23, 2026, with crypto-backed PACs spending more than $8 million in total. Several candidates they supported won, including one in a Maryland congressional race where Protect Progress spent about $5.5 million. Some Democrats, meanwhile, urged candidates to reject money from wealthy crypto donors.

Fairshake is a super political action committee funded by crypto companies including Ripple Labs and Coinbase. It supports Republicans through Defend American Jobs and Democrats through Protect Progress. Its bipartisan strategy is aimed at shaping the composition of Congress and digital-asset policy, making the 2026 midterm elections a key battleground for the industry’s regulatory direction.

Georgia, Alabama and Kentucky held primaries on May 19, 2026. Fairshake and affiliated groups spent a combined $20 million on advertising, with all six candidates they backed either winning or advancing. Four Republicans and one Democrat won outright, while Barry Moore, who received $7.4 million in support, advanced to a runoff.

The crypto industry is seeking to influence U.S. congressional elections through political action committees including Fairshake and Defend American Jobs, with the aim of advancing digital-asset market structure and regulatory legislation. As the November 3, 2026, midterm elections approach, political funding flows have become an important gauge of the industry's relationship with Republicans and Democrats.

As of July 2026, the crypto industry and related lobbying groups had committed more than $500 million in political funding to the midterm elections. The latest filings show that support for Republican candidates far exceeds funding for Democrats. The money is rapidly flowing into pivotal congressional races to help elect candidates with more crypto-friendly regulatory positions.