Fairshake backs 32 House candidates as crypto bill stalls
Fairshake will back 32 House candidates, including six with $1 million each, as the crypto industry looks to revive stalled federal market rules after November.
The Chain Times Desk2 min read
Crypto campaign group Fairshake plans to support 32 House members in the November midterm elections, backing lawmakers who supported a major industry bill that stalled in the Senate. The Associated Press report on Fairshake’s House slate says it includes 19 Republicans and 13 Democrats.
Which House members get the biggest backing?
Six lawmakers will each get $1 million in campaign spending, according to AP. The Democrats are Reps. Janelle Bynum of Oregon, Steven Horsford of Nevada and Derek Tran of California. The Republicans are Reps. French Hill of Arkansas, Bryan Steil of Wisconsin and Bill Huizenga of Michigan.
Fairshake has not disclosed how much it plans to spend on the other 26 House members. AP reported the slate on Oct. 5, after Fairshake provided the list to the news service.
How much money does Fairshake have available?
Fairshake and its affiliated political groups reported about $120 million in cash at the end of August, AP reported. A political action committee, or PAC, raises and spends money to influence elections. Fairshake did not say whether it plans to make further House or Senate commitments before November.
The House slate is smaller than the group’s largest general election investment so far: a plan announced in September to spend nearly $30 million against Democratic Senate candidate Sherrod Brown in Ohio. Brown is challenging Republican Sen. Jon Husted. Fairshake also spent heavily against Brown in 2024, when he lost to Republican Bernie Moreno.
What stalled crypto bill did the candidates support?
The 32 House members supported the CLARITY Act, which aimed to set federal rules for digital assets and divide oversight between regulators, AP reported. Senate Democrats blocked the measure in September, raising concerns that it did not adequately address President Donald Trump’s crypto investments.
Fairshake says its House slate reflects support for crypto policy across both parties. Spokesperson Geoff Vetter told AP the group backs candidates in both parties who support crypto and American innovation. The industry is looking to a future Congress to revive legislation that stalled this year.
Sources and documents
- Associated Press report on Fairshake’s House slate — apnews.com