Fairshake, a US crypto super PAC, amasses $193 million in firepower ahead of the midterms

With US midterm elections approaching, a crypto-industry-backed political fundraising group is mobilizing again. Fairshake, a super PAC that supports crypto-friendly candidates, said it has secured $193 million in cash, signaling it will seek to check anti-crypto politicians.

According to The Block on the 28th (local time), Fairshake said in a statement that its current cash holdings exceed $193 million. Fairshake is a political action committee backed by major crypto companies and venture capital firms such as Coinbase and Andreessen Horowitz (a16z).

Fairshake also disclosed the breakdown of its funding. In 2025, Coinbase donated $25 million, and more recently Ripple added another $25 million. It also said a16z contributed $24 million.

Fairshake said, "As the midterms approach, we are united by a mission to stand up to anti-crypto politicians and support pro-crypto leaders," adding that "it is time to protect consumers, foster US innovation, and open up the financial system to more Americans."

Fairshake also spent aggressively in the last election. According to the report, Fairshake and the super PAC Defend American Jobs poured $40 million into supporting Republican candidate Bernie Moreno, who defeated Democratic Senator Sherrod Brown in the November election.

The movement of political money is also intertwined with delays in Senate legislation. The Block reported that discussions on crypto legislation in the Senate have recently been delayed, and that the schedule was thrown off after Coinbase withdrew its support over issues related to tokenized stocks and stablecoin rewards. The issue of stablecoin rewards with interest-like characteristics is set to be discussed at a White House meeting, and the Senate Agriculture Committee has signaled a separate hearing.