Crypto PAC Fairshake Is Now Seeing Several Candidates Lose

Key Points:

• Crypto PAC Fairshake-backed candidates saw success in the 2024 cycle, though there were setbacks.
• The crypto industry, led by Fairshake and its affiliates, has raised $78 million for the 2026 midterms.

Crypto industry donations promise to have a significant stake in the 2026 midterms, with central political action committees firming up behind candidates who support blockchain and crypto-related policies.

Read more: Crypto PAC Fairshake Spends $25M to Support 18 House Candidates 

Fairshake’s Mixed Results: Key Wins and Losses in Election Support

Not all of Fairshake’s candidate endorsements have been successful despite its generally positive track record. Most recently, Fairshake spent over $2 million on campaign ads supporting Yadira Caraveo, a Democratic representative from Colorado, only to see her lose to her Republican opponent, Gabe Evans.

Currently, crypto PAC Fairshake counts 52 wins in the general, plus one loss, four losses from the primary, and five races still outstanding. Of those outstanding races, three are their candidates trailing behind while two are still in the lead.

Crypto PAC Fairshake Gear Up for 2026 Midterms with Record Funds Raised

The crypto PAC Fairshake, with affiliates Protect Progress and Defend American Jobs, has aggregated $78 million so far for this election cycle, with top companies like Coinbase and Andreessen Horowitz being the top contributors. In all, it encapsulates more than $30 million in funds raised and $48 million in new commitments.

Fairshake’s activity was pronounced in the 2024 cycle, whereby the crypto industry was estimated to have invested $135 million into over 50 candidates from both parties, including newcomers and incumbents.

Coinbase also promised another $25 million to Fairshake, underscoring the need for crypto-friendly candidates in Congress. This now sets up the crypto industry for serious influence in this race after having invested millions already in the early parts of the 2026 campaign.