A powerful bipartisan crypto-focused political action committee, Fairshake, has secured $141 million in funding ahead of the 2026 US midterm elections, per a July 15 statement shared with CryptoSlate.
According to the statement, the figure reflects significant backing from top digital asset firms and executives, including a fresh $25 million contribution from Coinbase.
The PAC also pointed out that $109 million of the total was raised following the 2024 general election, where President Donald Trump emerged victorious. Fairshake added that $52 million came during the first half of this year.
The rapid pace of fundraising illustrates growing political momentum within the crypto industry as regulation continues to take center stage in Washington.
Josh Vlasto, a spokesperson for FairShake, stated:
“The voters last year were clear – Congress needs to stop playing politics with crypto and finally pass responsible regulation. We are building an aggressive, targeted strategy for next year to ensure that pro-crypto voices are heard in key races across the country.”
Crypto Week pressure
Crypto critics like Molly White pointed to the timing of Fairshake’s funding release as a strategic move to exert influence on the US Congress.
According to White:
“It’s no coincidence that the Fairshake crypto super PAC has timed its press release announcing they have $140 million ready for the midterms as Congress is considering three crypto bills during ‘Crypto Week.’ Pass our bills, or we will spend millions against you in the midterms.”
Notably, US lawmakers have begun debating three significant crypto-related bills during what has been dubbed “Crypto Week.” These bills aim to establish a clear framework for the emerging industry and enforce a ban on creating a central bank digital currency (CBDC).
Pro-crypto groups like the Cedar Innovation Foundation have rallied in favor of the proposed legislation. In a statement shared with CryptoSlate, the group called these bills “the most crucial votes Congress will cast this session.”
They also stressed that digital asset market reform is crucial for the future of American innovation, security, and economic opportunity. The Foundation added:
“We can no longer afford the hodgepodge of 100-year-old regulations to keep consumers protected and govern the foundational technology of the present. It’s time for clear and responsible rules of the road for crypto to protect consumers, unlock American developers, and create good jobs here at home.”