- The pro-crypto super PAC Fairshake has raised $78 million for the 2026 midterm elections, with major contributions from Coinbase ($25 million), Andreessen Horowitz ($23 million), and Ripple Labs ($50 million).
- These crypto companies and individuals are donating to Fairshake with the goal of getting pro-crypto legislation passed in the US, such as comprehensive market structure laws for digital assets and a law to govern stablecoins.
- Fairshake was one of the top-spending PACs in the 2024 election cycle, and its crypto-backed spending was effective, with 36 out of 42 primary races won by the candidate supported by the crypto industry.
The cryptocurrency industry is making a big political play ahead of the 2026 midterm elections. Major companies like Coinbase and Andreessen Horowitz have funneled tens of millions of dollars into the pro-crypto and bipartisan super PAC Fairshake. In total, Fairshake has raised around $170 million this cycle.
Coinbase’s Contributions
Coinbase, the largest US cryptocurrency exchange, has contributed over $75 million to Fairshake so far. This includes a new $25 million donation announced last week. “We know we need to have pro-crypto legislation passed in this country,” said Coinbase CEO Brian Armstrong during the company’s recent earnings call.
Andreessen Horowitz’s Support
Venture capital firm Andreessen Horowitz has given $70 million to Fairshake to date. On Monday, general partner Chris Dixon published a note explaining the company’s latest $23 million contribution. “We’re committed to supporting policymakers irrespective of party affiliation who will work to establish a practical regulatory framework that protects consumers while allowing the industry to grow,” Dixon wrote.
Other Major Donors
Payments company Ripple Labs has donated around $50 million to Fairshake as well. A spokesperson said Ripple intends to remain heavily involved in Washington DC lobbying efforts for years to come. Individual donors like Coinbase CEO Brian Armstrong ($1 million) and the Winklevoss twins ($5 million) have also made contributions.
Fairshake’s Spending and Impact
In total, Fairshake has spent approximately $135 million this election cycle targeting House and Senate races. An analysis by the nonprofit Public Citizen found that crypto-backed PAC money has been highly effective, with supported candidates winning 36 out of 42 primaries that saw crypto spending.
What the Crypto Industry Wants
According to Chris Dixon and others, the crypto industry’s top policy priorities are establishing comprehensive digital asset market structure legislation and a regulatory framework for stablecoins. “Many industries come to DC asking to roll back rules and we have come to DC asking to establish them,” Dixon wrote. The industry hopes this political spending will help build a Congress of pro-crypto legislators.
