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• The crypto-backed Fairshake PAC has amassed $78 million to support pro-crypto candidates in the 2026 U.S. midterms, with major contributions from Coinbase and Andreessen Horowitz.
• Amid the 2024 election, crypto PACs are influencing crucial Senate races to secure a supportive Congress for the sector’s long-term regulatory agenda.

With the 2024 U.S. general election days away, the crypto industry is already pivoting its focus to the 2026 midterms, pouring millions into political action committees (PACs) to back pro-crypto candidates. The Fairshake PAC, a bipartisan, crypto-supported organization, reported a massive $78 million in contributions geared towards influencing the next Congressional cycle.

This includes a $48 million injection from crypto exchange Coinbase and venture capital firm Andreessen Horowitz (a16z) and $30 million already raised, highlighting the industry’s long-term commitment to regulatory influence.

As detailed in an October announcement, Coinbase CEO Brian Armstrong pledged $25 million to Fairshake, which was quickly followed by a $23 million contribution from a16z. Armstrong emphasized the need for favorable policies to counter ongoing regulatory challenges, especially after Coinbase’s recent clashes with the U.S. Securities and Exchange Commission (SEC).

Chris Dixon, a16z’s general partner overseeing crypto operations, echoed this sentiment in a letter outlining their strategy to foster a regulatory landscape that balances consumer protection with innovation.

“We’re supporting policymakers willing to establish a practical framework for crypto,” Dixon stated, reaffirming a16z’s commitment to bipartisan backing.

In the 2024 election cycle, Fairshake and its affiliates, including Defend American Jobs and Protect Progress, have funneled millions into critical Senate races, such as the Ohio contest where Republican Bernie Moreno is challenging incumbent Democrat Sherrod Brown. These efforts reflect a strategy focused on backing candidates across party lines who support the crypto sector’s growth and advocate for regulatory clarity.

Beyond Fairshake, other crypto giants like Ripple Labs have also made significant contributions, bringing the total to roughly $170 million, making Fairshake one of the highest-funded PACs of the 2024 election season. Ripple alone has invested $50 million to ensure pro-crypto legislation in Washington, with the PAC targeting both Democratic and Republican candidates. This political leverage has translated into victories in 36 out of 42 races supported by crypto-backed PACs, a success rate that bolsters the industry’s regulatory agenda.

As the election results unfold, the stakes for the crypto sector remain high. Both President Trump and Vice President Kamala Harris have expressed support for the industry, signaling a potentially crypto-friendly administration regardless of the outcome.

Markets, meanwhile, brace for volatility, as Wall Street and crypto trading desks prepare for overnight staffing to manage anticipated post-election swings.