Crypto PAC Fairshake raises $116 million for 2026 midterms with backing from major industry players: reports

Crypto-focused political action committee Fairshake is gearing up for the 2026 midterms with $116 million at the ready, according to multiple reports. 

Coinbase, Ripple and Andreessen Horowitz have committed more than $20 million and recently $10 million from Jump Crypto for congressional races next year, according to a report from Politico on Thursday. 

Uniswap Labs and Superstate founder Robert Leshner have also donated to the PAC, according to Axios. 

Fairshake raised over $200 million in the election cycle and received funding from major crypto companies and investment firms, including Coinbase and Andreessen Horowitz. The super PAC said it "supports candidates solely through its independent activities" and supports candidates who want to make the U.S. home to innovators. 

Fairshake was pivotal in a key Senate race in November in Ohio. Fairshake and super PAC Defend American Jobs spent $40 million supporting Republican crypto-friendly candidate Bernie Moreno, who later clinched a win in November against crypto-critic Democrat Sen. Sherrod Brown.

Moreno has since been assigned and joined the Senate Banking Committee. That committee's chair, Sen. Tim Scott (R-S.C.), has set his sights on crypto, which is significant since his committee holds the purse strings for legislation to be brought up, such as crypto bills. Earlier this month, Scott created a digital asset-focused panel led by Sen. Cynthia Lummis (R-Wyo.) Moreno is also a member of that panel. 

CLARIFICATION (Jan. 30, 17:00 UTC): As a political action committee, Fairshake paid for advertising advocating for Sen. Moreno and did not donate directly to his campaign. As well, the amount given by Fairshake and Defend American Jobs was added to this piece.