Top crypto group to pour millions into bipartisan slate of House races after key legislation stalls

The cryptocurrency advertising group Fairshake is introducing a bipartisan roster of House members it will endorse in the upcoming midterm elections. This move comes after one of the largest spenders in Washington saw mixed legislative results this year. The roster, which has been revealed to The Associated Press, encompasses 19 Republicans and 13 Democrats, with six House members receiving $1 million each in support. All 32 lawmakers backed legislation that held significant importance to the crypto sector.

The list is considerably smaller compared to Fairshake's biggest general election expenditure so far – a plan to spend nearly $30 million against Democrat Sherrod Brown in Ohio. Brown, who faces Republican Jon Husted in a highly competitive race, had previously been a major target in 2024 when he lost to Republican Sen. Jon Husted, primarily due to the industry's financial support.

Brown had previously avoided becoming a major target this year until the industry shifted its focus after Senate Democrats thwarted the CLARITY Act, which aimed to establish federal regulation for digital assets.

Fairshake has not disclosed the amount it plans to spend on the remaining 26 House candidates it supports. The organization maintains that its spending is issue-focused and that it backs pro-crypto candidates from both parties who are committed to American innovation. Geoff Vetter, a spokesperson for Fairshake, stated, "Fairshake has always been and always will be an issue-focused organization.

We back pro-crypto candidates who support American innovation in both parties." "We’ve won 53 of the 57 races we engaged in this cycle and look forward to continuing to build on the largest pro-crypto caucus in American history."

The organization's Senate spending remains uncertain, as Senate Democrats blocked legislation aimed at providing the industry with greater regulatory assurance and dividing oversight between federal regulators. In September, Fairshake pledged nearly $30 million against Democrat Sherrod Brown, who had faced nearly $40 million in crypto spending in 2024.

Fairshake's network also spent around $10 million each to support Democrat Ruben Gallego in Arizona and Democrat Elissa Slotkin in Michigan. Gallego criticized the decision to target Brown, stating, "You still need 60 votes after this election if you want to pass market structure. Now the negotiations will just get harder and the deal is going to be not as good as they had right before they decided to kill it."