Fairshake PAC Holds $141 Million War Chest to Push Crypto Agenda in U.S. Elections

Fairshake, a U.S.-based political action committee (PAC) backed by Coinbase, Ripple Labs, and other cryptocurrency companies, has amassed $141 million in assets to influence upcoming elections and shape crypto policy in Washington.

Millions Raised by Fairshake in 2025 Alone

According to a statement released on Tuesday, Fairshake raised around $52 million in the first half of 2025, including a $25 million contribution from Coinbase. This builds on the $109 million raised since November 2024, leaving the PAC with more funds now than it spent during the previous congressional election cycle, where it became one of the most active spenders in politics on behalf of the crypto industry.

The PAC, alongside its affiliates Defend American Jobs and Protect Progress, has already spent more than $2 million this year to support candidates in special congressional elections in Virginia and Florida. 

Formed in 2023, Fairshake did not participate in the 2022 midterms, a period when crypto donations were largely directed by former FTX CEO Sam Bankman-Fried before his legal troubles. However, in 2024, it played a significant role in supporting “pro-crypto” candidates and opposing “anti-crypto” lawmakers, spending over $130 million on media and campaign support.

Influencing Crypto Policy Through Elections

While Fairshake has not directly supported Donald Trump’s campaign, figures within the crypto industry, including Ripple Labs executives and Gemini co-founders Cameron and Tyler Winklevoss, have contributed to Trump’s efforts. Kraken co-founder Jesse Powell was also among those supporting the former president.

The influence of crypto PAC money is evident as Congress considers key crypto legislation. Following the 2024 elections, Republicans secured a slim majority in both the House and Senate, with around 270 lawmakers now seen as “pro-crypto” by industry advocates. 

Republican House leaders are working to pass three major crypto-related bills concerning payment stablecoins, market structure, and central bank digital currencies. Trump has urged his party to back the stablecoin bill, GENIUS Act, which has support from Florida lawmakers Randy Fine and Jimmy Patronis, who won their seats with crypto PAC backing.

If Fairshake’s efforts continue to succeed in the 2026 elections, they could strengthen the Republican agenda to regulate digital assets, potentially shifting the landscape of crypto policy in the United States.