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Fairshake: Crypto Titans Use Old-School Dollars to Turn Tide in Congress

Author: Content Editor
The Fairshake super PAC, supported by major crypto industry players Coinbase, Ripple Labs, and a16z, spent $139 million on the 2024 U.S. congressional elections to support candidates who are pro-crypto and advocate for responsible regulation. The PAC aims to secure the right number of supporters on Capitol Hill to push for favorable legislation for the crypto sector. It has about $30 million left from this cycle and has commitments from industry benefactors for another $73 million. Fairshake's influence was demonstrated when it spent $10 million to derail the Senate campaign of Representative Katie Porter, a crypto skeptic. The PAC backed about the same number of candidates from each major political party but focused its major efforts on derailing Democrats it disliked. Going into the next congressional session, over four dozen members of Congress are backed by Fairshake, and the PAC estimates that about 300 out of the 535 members of the House and Senate are on crypto's side.

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