The crypto campaign cash is looming over a slate of House votes this week on industry-backed crypto bills.
A super PAC group funded by cryptocurrency companies will enter the upcoming midterm elections with more than $140 million in the bank, according to new fundraising data shared first with POLITICO — a mammoth sum that now looms large over an effort to pass industry-friendly legislation in the House this week.
The group, known as Fairshake, raised $52 million in the first half of 2025, piling onto an already huge sum of crypto campaign cash that could be wielded against lawmakers who oppose the industry’s Capitol Hill agenda — and boost the political fortunes of those who support it.
The PAC network’s fundraising highlights how top crypto firms are plowing ahead with a lobbying strategy that overtly uses political spending to get their way from Congress. The group includes three affiliated super PACs — Fairshake, Protect Progress and Defend American Jobs — that collectively spent $135 million supporting industry allies and taking down crypto critics in Congressional races across the country last year.
Spending by the group in the 2024 campaigns helped take down key roadblocks to the industry’s policy agenda, including former Senate Banking Chair Sherrod Brown, who lost his Ohio re-election campaign to Republican Bernie Moreno — a crypto enthusiast who benefited from more than $40 million of crypto PAC spending. The PACs also boosted industry supporters in dozens of other House and Senate races across the country, including the California Democratic Senate primary and hotly-contested House races in Alabama, Arizona and Virginia.