Coinbase-Backed Fairshake PAC Has $193M Heading into Midterms

Fairshake, the crypto-focused super PAC backed by Coinbase and Andreessen Horowitz, announced it has $193M in cash on hand heading into the 2026 midterm elections.

What's the Scoop?

• Mission: "With the midterms approaching, we are united behind our mission with Fairshake continuing to oppose anti-crypto politicians and support pro-crypto leaders," the PAC said in a statement Wednesday.
• Track Record: Fairshake and affiliated super PAC Defend American Jobs spent $40M backing Bernie Moreno (R-OH) in his successful Senate race against crypto critic Sherrod Brown (D-OH) last November.
• Legislative Context: Senate crypto legislation has stalled over the past month. The Senate Banking Committee postponed a hearing after Coinbase pulled its support, citing concerns around tokenized equities and stablecoin rewards. A White House meeting on stablecoin yield treatment is scheduled for Monday.

Bankless Take:

Crypto money has proven to be a powerful factor in fueling campaigns over recent years — a dynamic which looks here to stay. With this political landscape, we’ll likely see industry funds spread wide across the aisle given that, with Democrats favored to take the House and Republicans holding the Senate, crypto legislation will require genuine bipartisan support to move forward. It’s a harder sell now than it was a year ago, too. The Trump family's high-profile crypto profits have given critics ammunition to paint digital assets as a partisan issue, and the industry will need to actively counter that narrative.