Outside Source
Crypto leaders and Silicon Valley giants have boosted Fairshake’s funds for the U.S. 2026 mid-term election cycle, even as America prepares to decide its next president.
The crypto super PAC Fairshake has raised $78 million from blockchain supporters and businesses for mid-term lobbying in 2026, according to CNBC.
U.S. mid-term elections, held two years into a president’s term, determine many congressional seats, potentially favoring digital asset regulations. Coinbase and Andreessen Horowitz are among the backers funding pro-crypto candidates in Congress.
America’s largest centralized crypto exchange, Coinbase, pledged to donate $25 million. Earlier, crypto.news reported that a16z crypto committed $23 million to Fairshake, as announced by managing partner Chris Dixon.
Crypto industry firms and blockchain-friendly companies have contributed a total of $170 million to Fairshake, a super PAC founded by over a dozen entities. Fairshake’s numbers, along with other crypto-aligned PACs, made up nearly 50% of corporate donations for the 2024 general elections.
A16z, Coinbase, Jump Crypto, and Ripple donated most of Fairshake’s $170 million crypto lobbying war chest this cycle. Fairshake has spent around $135 million, targeting legislators and state policymakers.
Long-term crypto lobbying commitments floated on hours before the final voting between Republican Donald Trump and Democrat Kamala Harris for president. On prediction platforms like Polymarket, Trump had a higher winning probability at 57.9% against Kamala’s 42.3%. But national polls implied a tight race between the rivals.
Presidential election results may be announced on Nov. 5. However, protracted vote counting could cause delays. Polymarket’s presidential contract crossed $3.1 billion volume as traders placed stoppage time wagers.
The largest presidential prediction market will resolve when the Associated Press, Fox, and CNBC all declare a single winner. If not, Polymarket’s betting pool would remain open until the inauguration in January.
This article first appeared at crypto.news
