Fairshake Pledges Millions to Build Pro-Crypto Congressional Caucus
Fairshake is spending millions to support 32 bipartisan House incumbents and oppose Ohio Senate candidate Sherrod Brown following the failure of the CLARITY Act.
The cryptocurrency campaign organization Fairshake announced a bipartisan spending plan for the November midterms to support 32 House incumbents, including 19 Republicans and 13 Democrats. The organization is providing $1 million each to six representatives: Republicans French Hill, Bryan Steil, and Bill Huizenga, and Democrats Janelle Bynum, Steven Horsford, and Derek Tran. Many of these recipients serve on the House Financial Services and Ways and Means committees, which oversee digital asset and tax legislation.
This funding push follows the failure of the CLARITY Act, a federal regulatory framework for digital assets, to advance in the Senate. In response to Senate Democrats blocking the act, Fairshake pledged nearly $30 million to oppose Democratic Senate candidate Sherrod Brown in Ohio. An additional $3 million was contributed to this effort by a PAC founded by Tyler and Cameron Winklevoss.
Backed by Coinbase, Ripple, and Andreessen Horowitz, Fairshake reported approximately $120 million in cash on hand as of late August. The organization operates through affiliated super PACs Protect Progress and Defend American Jobs to build what it describes as the largest pro-crypto caucus in American history. Democratic Senate candidate Ruben Gallego criticized the decision to target Sherrod Brown, arguing that the industry still needs 60 votes to pass market structure legislation regardless of the election outcome.
