Fairshake names 32 House candidates for midterm spending

Crypto super PAC Fairshake announced Monday it will back 32 House incumbents in November’s midterm elections, including six who will each get $1 million in campaign spending, as the industry looks to build support for legislation stalled in the Senate. The slate includes 19 Republicans and 13 Democrats, according to The Associated Press’s report on Fairshake’s announcement.

The money moves through political spending, not a check to each candidate’s campaign. Under Federal Election Commission rules, a super PAC can pay for independent communications that support or oppose candidates, provided those communications are not coordinated with a candidate or their campaign. Think of it as a separate megaphone: the group pays for its own message. The FEC explains how independent expenditures work.

Which House candidates will get the disclosed $1 million?

Fairshake plans to spend $1 million each supporting three Democrats: Reps. Janelle Bynum of Oregon, Steven Horsford of Nevada and Derek Tran of California. The three Republicans slated for the same amount are Reps. French Hill of Arkansas, Bryan Steil of Wisconsin and Bill Huizenga of Michigan.

The other 26 candidates are also incumbents, but Fairshake has not disclosed how much it will spend on their races. All 32 supported the CLARITY Act, the crypto industry’s priority bill to establish a federal regulatory framework for digital assets. The slate therefore spans both parties while selecting lawmakers who backed the same measure.

What stalled the CLARITY Act in the Senate?

The House passed the bill in July 2025. The Senate did not reach agreement on provisions including ethics rules for public officials with crypto ventures, and blocked the measure in September on a procedural vote. Fairshake’s House spending comes as the industry looks to the next Congress to revive the legislation, AP reported.

Fairshake has also announced nearly $30 million in spending against Democratic Senate candidate Sherrod Brown in Ohio. Brown is running against Republican Sen. Jon Husted. The group’s affiliated PACs reported about $120 million in cash on hand at the end of August, AP reported, but Fairshake did not say whether it would put more money into House or Senate contests before November.

The slate is bipartisan by party count, but the disclosed spending is only a partial picture: $6 million is assigned among the six named House candidates, while allocations for the rest remain unknown. The next Congress will decide whether a new attempt at crypto market-structure legislation can advance.

Sources

• The Associated Press’s report on Fairshake’s announcement — apnews.com
• how independent expenditures work — fec.gov