After solidifying its standing as a significant political entity in the 2024 elections, the cryptocurrency industry is gearing up to exert its financial influence once again in the lead-up to the 2026 midterms.
Two years ago, crypto-focused super political action committees (PACs) played a crucial role in shaping pivotal races, contributing to victories for President Donald Trump and Republican majorities in both the House and Congress. With the prices of digital assets facing downward pressure and Congress still in deliberation over the landmark CLARITY Act, the industry is ramping up its spending to safeguard and enhance its influence in Washington.
Fairshake Enters 2026 With $193M
Recent reporting indicates that Fairshake, the leading super PAC network aligned with the cryptocurrency sector, has entered 2026 with an impressive war chest of more than $193 million, earmarked for priority races this election cycle.
Fairshake has pledged its support to Republican Representative Barry Moore in Alabama’s Senate race while also targeting Democratic Representative Al Green in the House, aiming to unseat him.
Leonard Kostovetsky, an associate professor at Baruch College who has expressed skepticism about cryptocurrency, noted that the strategy appears reminiscent of the industry’s tactics from two years ago. “It’s going to be similar to the previous cycle where they will kind of flex their muscles to show the political power of the crypto industry,” he commented.
The political footprint of the industry expanded significantly during the 2024 election cycle, with crypto-aligned groups investing millions in competitive primaries and notable races. Federal filings reveal that Fairshake and its affiliated organizations shelled out nearly $180 million throughout that cycle.
Beyond elections, the industry has also achieved a noteworthy legislative success, securing the passage of the GENIUS Act, which established a regulatory framework for dollar-backed stablecoins. However, the more comprehensive market structure legislation, viewed as the industry’s paramount priority, remains in limbo. While the House has approved its version, the bill has stalled in the Senate.
Crypto Groups Push For Regulatory Clarity
As Congress engages in discussions regarding this broader framework, politically affiliated crypto groups are already engaging in midterm contests. One partner PAC of Fairshake, Defend American Jobs, announced it would allocate $5 million to support Moore’s Senate campaign in Alabama.
Additionally, another affiliated PAC, Protect Progress, disclosed plans to invest $1.5 million to oppose Green in the Democratic primary for Texas’s newly redrawn 18th Congressional District. The group criticized Green’s voting record on crypto-related matters, claiming he has endeavored to halt American innovation, pointing to his votes against the GENIUS Act and the House’s CLARITY Act.
There is ongoing debate about whether crypto groups should be allowed to utilize what some describe as “unregulated money” in federal elections. However, advocates for the industry argue that their engagement in politics is focused on fostering responsible regulation rather than evading it. A source familiar with Fairshake’s operations contended that election spending has propelled policymakers toward establishing clearer rules for the industry.
