Crypto firms double down on influencing US elections via PACs in 2026
The political action committee (PAC) Fairshake has reported more than $116 million available for influencing the 2026 US midterm elections, following its role in supporting pro-crypto candidates in the 2024 elections. Fairshake announced on January 30 that it had received over $11 million from undisclosed sources, bringing its total to this significant amount. Major donors to the PAC include Coinbase, Andreessen Horowitz, and Jump Crypto. Fairshake's spokesperson emphasized the need to back candidates who prioritize innovation and responsible regulation in the crypto space. The advocacy group Stand With Crypto noted that approximately 270 lawmakers in Congress were pro-crypto, with Republicans holding majorities in both the House and Senate. The PAC’s involvement in elections is raising questions about its potential influence, especially considering its affiliate, Defend American Jobs, reportedly spent over $40 million on ads linked to the Senate race in Ohio. While the impact of this hefty funding on future elections remains uncertain, it is poised to shape the political landscape around cryptocurrency policies well into the next legislative session.
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