TL;DR
- Fairshake reported $193 million in cash for the 2026 U.S. midterm elections, up 37% from its July 2025 filing.
- During 2025, Ripple contributed $25 million, Andreessen Horowitz $24 million, and Coinbase another $25 million, lifting the PAC’s inflows by $74 million.
- In the 2024 cycle, Fairshake spent more than $130 million on campaigns.
Fairshake, a crypto-linked super PAC, reported $193 million in available cash ahead of the 2026 U.S. midterm elections. The figure marks a 37% increase compared with its previous disclosure in July 2025.
During 2025, the fund’s growth was driven by contributions from industry companies and venture capital firms. Ripple contributed $25 million, Andreessen Horowitz added $24 million, and Coinbase contributed another $25 million. Combined, the three firms injected $74 million into the PAC over the year. At the time of disclosure, the total had not yet appeared in public Federal Election Commission records due to formal reporting timelines.
The Crypto Industry Steps Deeper Into Politics
Fairshake already shows a track record of heavy spending across election cycles. During the 2024 federal elections, the PAC allocated more than $130 million to advertising campaigns supporting candidates viewed as favorable to the crypto industry and opposing others seen as critical of the sector. In the same period, together with its affiliate Defend American Jobs, it directed $40 million to the campaign of Republican Bernie Moreno in Ohio, who defeated then-Senator Sherrod Brown.
Throughout 2025, Fairshake continued deploying capital in special elections for the House of Representatives. Spending exceeded $2 million across races held in Virginia and Florida. These outlays form part of the financial buildup for the midterm cycle scheduled for November 2026.
The PAC operates within a broader network of political organizations. Fairshake works alongside affiliated groups such as Defend American Jobs and Protect Progress. Its spokesperson, Josh Vlasto, also represents other political action committees tied to the technology sector and the Cedar Innovation Foundation, a dark-money entity that does not publicly disclose its donors.
Fairshake Has Not Named the Candidates It Will Back
Fairshake’s expansion coincides with heightened political activity from other crypto-related organizations. Firms linked to Gemini and Crypto.com disclosed combined contributions of $21 million to a super PAC aligned with Donald Trump. Kraken contributed $2 million to other political funds, while Fellowship PAC reported holding $100 million in cash.
Looking toward 2026, Fairshake has not publicly detailed which candidates it will support. The scale of its available funds places it among the PACs with the highest declared liquidity
