Fairshake targets 32 House races with crypto campaign spending

Crypto super PAC Fairshake announced support for 32 House candidates in November’s midterms, including $1 million in planned spending for each of six lawmakers, as legislation to set federal rules for digital asset markets remains stalled in the Senate. The Associated Press report on Fairshake’s slate says all 32 backed the industry’s priority legislation.

Fairshake’s election spending works through independent expenditures: a super PAC raises money and pays for political activity supporting or opposing candidates, but it cannot contribute directly to their campaigns or coordinate that spending with them. The Federal Election Commission’s super PAC rules allow these committees to accept unlimited contributions from individuals, companies, unions and other political committees for independent activity.

Who is on Fairshake’s House slate?

The slate has 19 Republicans and 13 Democrats. Fairshake plans $1 million in spending for Democratic Reps. Janelle Bynum of Oregon, Steven Horsford of Nevada and Derek Tran of California, and Republican Reps. French Hill of Arkansas, Bryan Steil of Wisconsin and Bill Huizenga of Michigan. The group did not disclose the amounts it plans to spend on the other 26 candidates.

The list includes House Financial Services Committee leaders. Hill chairs the full committee, Steil chairs its Digital Assets, Financial Technology and Artificial Intelligence Subcommittee, and Huizenga is the committee’s vice chair. The six planned investments put equal amounts behind lawmakers from both parties.

What happens to the Clarity Act?

The House passed the Clarity Act in July 2025. The bill would establish a federal framework for digital asset markets and divide oversight between regulators. But the Senate did not advance it after lawmakers failed to agree on ethics rules addressing public officials’ crypto ventures, among other disputed provisions. The Senate blocked the measure in a procedural vote in September.

The bill’s stall gives Fairshake a political reason to back candidates who supported it and could vote on similar legislation in a future Congress. The group says it backs pro-crypto lawmakers from both parties. It and affiliated groups reported about $120 million in cash at the end of August, according to AP; Fairshake PAC alone reported $108 million, Roll Call reported from Federal Election Commission filings.

Will the spending stay focused on House races?

Fairshake has not said whether it will spend more in House or Senate races before November. Its largest announced general-election investment so far is nearly $30 million against Democratic Senate candidate Sherrod Brown in Ohio, where he is challenging Republican Sen. Jon Husted.

The contrast shows the slate’s scale and its limits: the six House investments are specific, but the group has not released spending totals for the other candidates or committed its remaining cash to House contests. Its outside spending can pay for independent campaign messages, while the candidates’ own committees remain responsible for their campaigns.

Sources

• Associated Press report on Fairshake’s slate — apnews.com
• Federal Election Commission’s super PAC rules — fec.gov