Key Notes
- Fairshake will support 19 Republicans and 13 Democrats, with at least $6 million committed across six House races.
- The three affiliated super PACs reported about $120.4 million in combined cash on hand as of August 31.
- All 32 incumbents backed the House CLARITY Act, while a completed federal market-structure framework remains pending.
Fairshake and its affiliated crypto super PACs have announced support for 32 incumbent members of the US House of Representatives ahead of November’s midterm elections, backing 19 Republicans and 13 Democrats.
The candidate list was provided first to the Associated Press, which reported the announcement on October 5. Six races have disclosed commitments of at least $1 million each, establishing a minimum of $6 million in planned support.
The initiative puts the industry’s campaign-finance network behind lawmakers who supported the CLARITY Act, its priority market-structure legislation. CNBC described the announcement as the network’s first broad general-election House push this cycle, following the bill’s failure to advance in the Senate last month.
Six House Races Have Million-Dollar Commitments
The largest disclosed commitments are evenly divided between the two parties:
| House incumbent | Party | State | Planned support |
|---|---|---|---|
| Janelle Bynum | Democratic | Oregon | At least $1 million |
| Steven Horsford | Democratic | Nevada | At least $1 million |
| Derek Tran | Democratic | California | At least $1 million |
| French Hill | Republican | Arkansas | At least $1 million |
| Bill Huizenga | Republican | Michigan | At least $1 million |
| Bryan Steil | Republican | Wisconsin | At least $1 million |
Amounts for the other 26 incumbents have not been disclosed. The $6 million figure therefore represents the minimum identified across those six races, rather than the complete budget for the 32-candidate slate.
Several beneficiaries hold influential policy positions. Hill chairs the House Financial Services Committee, Huizenga is its vice chair, and Steil leads its digital-assets subcommittee, according to CNBC. Hill also sponsored the House CLARITY legislation.
Filings Show $120.4 Million at the End of August
The network consists of Fairshake and two affiliated committees, Protect Progress and Defend American Jobs. Their Federal Election Commission summaries show combined cash on hand of approximately $120.4 million as of August 31, 2026.
Fairshake’s filing lists $108.29 million in ending cash. Protect Progress reported $6.48 million, while Defend American Jobs reported $5.66 million. The figures provide a dated financial snapshot, not a live October balance or a commitment to spend the entire amount.
The filings also show how funds move through the organization. Fairshake reported $70 million in transfers to affiliated committees during the reporting period, while Protect Progress recorded $33 million received from affiliates and Defend American Jobs recorded $37 million.
Those transfers should not be counted again as fresh outside fundraising when combining the committees’ receipts. They help finance the affiliates’ activities, but do not establish how much of Monday’s House commitment has already been spent.
Outside Spending, Rather Than Candidate Donations
Fairshake describes itself on its website as an independent expenditure-only committee. Its stated policy objective is a clearer legal framework for blockchain businesses, and it says it supports candidates solely through independent activities.
The FEC’s guidance distinguishes independent expenditures from contributions. Such spending pays for communications advocating a candidate’s election or defeat and must not be undertaken in consultation or cooperation with that candidate, their authorized committee or a political party committee.
The announced support therefore concerns outside campaign activity, rather than $1 million being deposited directly into each lawmaker’s campaign account. Fairshake’s own summary lists no contributions to other committees and reports independent expenditures separately from operating costs and affiliate transfers.
Coinbase, Ripple and Andreessen Horowitz are among the network’s backers. All three were identified in Fairshake’s founding announcement in December 2023, which also named Protect Progress and Defend American Jobs as affiliated super PACs.
According to spokesperson Geoff Vetter, quoted in reporting on Monday’s announcement, the network spent $71 million across 57 primaries and special elections earlier this cycle, and its preferred candidates won 53. That is the organization’s account of its activity; the results alone do not establish that its spending caused those victories.
The CLARITY Act Remains the Policy Prize
All 32 endorsed incumbents voted for the CLARITY Act, according to CNBC. The House Clerk’s roll call confirms that the chamber passed the bill on July 17, 2025, by 294 votes to 134. The majority included 216 Republicans and 78 Democrats.
The legislation seeks to establish a federal framework for digital-asset markets, including the responsibilities of the Commodity Futures Trading Commission and Securities and Exchange Commission. The Congressional Research Service’s summary describes requirements for digital commodity exchanges, brokers and dealers, alongside trading oversight, recordkeeping and customer-asset safeguards.
The House vote demonstrated cross-party support, but it did not make the framework law. The Senate impasse leaves the industry seeking a coalition capable of completing market-structure legislation, while the November election will determine the membership of the next Congress.
Agency rulemaking is moving in parallel. As CoinScreamer reported in its coverage of the CFTC’s latest consultation, proposed CTX and CAM regulations would operate within existing authority. They would not automatically resolve the gap in compulsory federal oversight of ordinary spot crypto exchanges.
Fairshake’s commitments show how the industry is supporting lawmakers aligned with its regulatory goals. The full cost of the House campaign, the eventual election results and the terms of any legislative agreement remain unsettled.
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