Fairshake PAC Amasses $193M War Chest From Crypto Industry Contributors Before Midterm Elections
The political action committee's available funds grew by 37% compared to its previously reported financial position from July 2025.
Political action committees backed by the cryptocurrency sector are preparing for the 2026 US midterm electoral cycle, as organizations funded by digital asset companies indicate their intention to broaden their political footprint amid heightened Congressional discussions surrounding crypto asset oversight.
The cryptocurrency sector-supported political action committee known as Fairshake revealed on Wednesday that it maintains $193 million in available funds in preparation for this year's US midterm electoral contests. Through a statement provided to Cointelegraph, Josh Vlasto, who serves as Fairshake's spokesperson, disclosed that the PAC had secured $25 million from Ripple Labs and $24 million from venture capital firm a16z, alongside an additional $25 million contribution from digital asset exchange Coinbase during 2025.
Based on Vlasto's statements, these financial contributions resulted in Fairshake maintaining over $193 million in available cash reserves as of January, marking approximately a 37% growth from the time of its previous financial disclosure in July. When this story went to press, the $193 million amount had not yet appeared in public documents filed with the Federal Election Commission.
"With the midterms approaching, we are united behind our mission with Fairshake continuing to oppose anti-crypto politicians and support pro-crypto leaders. The time is now to protect consumers, cultivate American innovation, and open up the financial system to more Americans."
Josh Vlasto, Fairshake spokesperson
The Fairshake organization indicated that it had allocated over $130 million toward media expenditures backing political candidates it deemed "pro-crypto" while working against those it labeled "anti-crypto" during the 2024 US federal electoral cycle. In January 2025, Vlasto informed Cointelegraph that the PAC intended to maintain momentum for that year's elections and future electoral contests.
Political action committees are organizations designed to collect and distribute funds either in support of or opposition to political candidates, legislative measures, or ballot propositions. Federal election regulations govern PACs, with oversight provided by the Federal Election Commission.
In his role, Vlasto represents not only the Fairshake PAC but also its two associated entities, Defend American Jobs and Protect Progress, along with the artificial intelligence-focused Leading the Future PAC and its connected organization, Think Big. His responsibilities extend to representing the Cedar Innovation Foundation, a nonprofit organization linked to the cryptocurrency sector that operates as a dark money group, which means it is not required to reveal its funding sources.
Fairshake is not alone in attempting to influence US elections through crypto money
Though Fairshake emerged as among the largest cryptocurrency-funded spending entities in 2024, numerous PACs with connections to the digital asset sector were established in 2025.
Organizations associated with digital currency platforms Gemini and Crypto.com revealed they had contributed $21 million, presumably a nod to Bitcoin (BTC)'s maximum supply limit, to a Super PAC backing US President Donald Trump during January. The Winklevoss twins, Cameron and Tyler, who co-founded Gemini, additionally transferred $21 million in BTC directly to the Digital Freedom Fund PAC in August.
The Fellowship PAC, an organization that professed to support "pro-innovation, pro-crypto" political candidates, reported holding $100 million as of September. Digital asset platform Kraken similarly pledged $2 million to Freedom Fund PAC and America First Digital in September as part of what it described as the "fight for crypto in the United States."
In Fairshake's case, the organization directed over $2 million toward media purchases supporting candidates competing in special congressional elections for three House positions in Virginia and Florida throughout 2025. Nevertheless, judging from Vlasto's communications, the PAC appears poised to increase its expenditures as the November 2026 elections draw nearer.
Several electoral contests attracting attention from cryptocurrency enthusiasts and industry participants may feature former Ohio Senator Sherrod Brown seeking to reclaim a Senate position following his 2024 defeat to Bernie Moreno, as well as John Deaton, an attorney who frequently provides representation for XRP holders. Deaton declared another Senate candidacy in 2026 after experiencing a 2024 defeat against sitting Senator Elizabeth Warren.