FairShake, a crypto political action committee that raised $193 million by the end of last year, is positioned to play a key role in the Congressional midterm elections as lawmakers negotiate a major crypto bill scheduled for its first vote this week.
The total, which FairShake shared with CNBC ahead of the Jan. 31 reporting deadline, includes money raised for FairShake, which donates to candidates in both parties, as well as money raised for its sister organizations, Democratic-centered Protect Progress and Republican-centered Defend American Jobs.
The new total reflects two large donations made in the second half of 2025. Blockchain company Ripple donated $25 million, and Andreessen Horowitz’s a16z donated $24 million. coinbaseThe group, another major donor, gave away $25 million in the first half of last year, just before the PAC announced it had $141 million on hand.
“As the midterm elections approach, FairShake is united in our mission to continue to oppose anti-crypto politicians and support pro-crypto leaders,” said PAC spokesperson Josh Brust.
This total is approximately the same amount FairShake raised from donations for the entire 2024 interim cycle. The group spent about $195 million electing pro-crypto lawmakers, according to FEC data. That spending paid off last year when Congress passed the Stablecoin Road Rules Act.
Senators are negotiating a bill this week that would set regulations for all digital assets.
Parts of the bill are scheduled for an initial vote Thursday in the Senate Agriculture Committee. But the rest of the bill, overseen by the Senate Banking Committee, was postponed after senators canceled a scheduled vote citing ongoing controversy over the bill.
