Crypto firms double down on influencing US elections via PACs in 2026

The political action committee (PAC) Fairshake, which could have contributed to many candidates espousing “pro-crypto” views winning in the 2024 US elections, has reported holding more than $116 million to be used to influence the outcome of the 2026 midterms. 

In a Jan. 30 notice, Fairshake said it had added more than $11 million in contributions from unnamed sources, which at the time of publication had not been reported to the Federal Election Commission (FEC). However, some of the PAC’s most prominent donors have included Ripple Labs, Coinbase, venture capital firm Andreessen Horowitz, and Jump Crypto.

“We are keeping our foot on the gas,” said Fairshake spokesperson Josh Vlasto. “With the midterms on the horizon, we are poised to continue backing candidates committed to advancing innovation, growing jobs, and enacting thoughtful, responsible regulation and opposing those who play politics and stand in the way with the voters’ support for crypto.”

According to the advocacy group Stand With Crypto — which also attempted to influence US voters in 2024 — roughly 270 lawmakers in the 119th Session of Congress were “pro-crypto,” with the Republican Party taking majority control in the House of Representatives and Senate. FEC filings showed Fairshake spent roughly $131 million to support 2024 candidates in primaries and the general election, many of whom went on to win their seats.