Politics
Crypto-backed Fairshake network reports $95 million ahead of 2026 midterms
A network of cryptocurrency-aligned super PACs had more than $95 million in cash at the end of September, giving it substantial resources for the final stretch of the 2026 campaign. Its largest effort so far is a $45 million push in Ohio’s Senate race.
The Fairshake network, a group of three super PACs backed largely by cryptocurrency companies and investors, reported more than $95 million in cash on hand at the end of September, according to federal campaign finance filings released Tuesday, Oct. 20.
The funds give the group significant capacity to support candidates it considers favorable to the cryptocurrency industry before the Nov. 3 midterm elections. It has not said whether it plans to spend the remaining money this cycle or reserve some for the 2028 elections.
Fairshake and its affiliated committees — Defend American Jobs and Protect Progress — spend on candidates from both parties. Their principal funders are cryptocurrency exchange Coinbase, blockchain company Ripple and venture capital firm Andreessen Horowitz.
The network’s largest intervention so far has come through Defend American Jobs, its Republican-aligned arm. The group has spent $45 million to support Republican Sen. Jon Husted and oppose former Sen. Sherrod Brown in Ohio. Brown, a Democrat, was a vocal cryptocurrency critic while chairing the Senate Banking Committee.
Fairshake is also spending on a smaller scale to support 32 crypto-friendly House incumbents, according to the filings.
The cash reserve underscores the growing role of industry-backed outside groups in elections, where super PACs can raise and spend large sums independently of candidates. The filings show how a network funded primarily by a handful of wealthy corporate and venture capital interests could continue shaping contests in the closing weeks of the campaign.