The largest political action committee supporting the US crypto industry won the majority of its targeted races in the 2026 midterm elections, according to data reported after November 4. Fairshake, backed by leading blockchain companies and investors, secured victories in 29 out of 34 congressional contests that had been decided.
Major spending, mixed results in key states
Despite significant investment from crypto-focused groups, notable setbacks emerged. In Ohio, Democratic Senator Sherrod Brown prevailed over Republican challenger Jon Husted, undeterred by over $60 million in campaign spending orchestrated by crypto industry PACs. This marks a high-profile defeat for advocates seeking more crypto-friendly regulation in a contentious state.
Simultaneously, the Democratic Party regained control of both the House of Representatives and the Senate during the November 3 midterm elections. This outcome grants Democrats command over legislative priorities for the remainder of Donald Trump’s presidential term.
Reports show that industry-aligned PACs spent approximately $176 million across more than 100 congressional races by late October. Fairshake and its network contributed the largest share, channeling funds in support of candidates considered favorable to digital asset innovation.
Fairshake is a political action committee supported by notable firms including Ripple, Coinbase, and venture capital investor Andreessen Horowitz. The organization initially targeted 32 House incumbents—19 Republicans and 13 Democrats—largely focusing on supporters of the pending CLARITY Act.
In Nebraska, Republican Senator Pete Ricketts emerged triumphant over independent Dan Osborn, bolstered by extensive support from crypto groups. Likewise, Kentucky’s Republican Andy Barr secured a Senate seat after receiving industry backing in the primary elections.
Some Democratic candidates endorsed by Fairshake also advanced to Congress. The group’s influence extended to Financial Services Committee Chairman French Hill, though both Representatives Bryan Steil and Bill Huizenga, also targeted by industry groups, lost their bids for reelection.
In Ohio, the race represented a rematch for the crypto sector. Brown, a longtime critic of cryptocurrency, had previously lost his Senate seat in 2024 after another expensive campaign with heavy involvement from digital asset supporters.
Mini dictionary: Fairshake, launched in 2023, is a prominent political action committee (PAC) advocating for cryptocurrency-friendly policies in US federal elections. It is funded by major crypto companies and venture investors, aiming to influence legislation and regulatory decisions affecting the digital assets sector.
| State | Candidate Supported by Fairshake | Outcome | Amount Spent |
|---|---|---|---|
| Ohio | Jon Husted | Lost | $60 million |
| Nebraska | Pete Ricketts | Won | Significant funding |
| Kentucky | Andy Barr | Won | Industry-backed |
| House (Wisconsin, Michigan) | Bryan Steil, Bill Huizenga | Lost | Industry-backed |
Ripple leaders respond and reaffirm advocacy goals
Ripple CEO Brad Garlinghouse, leading the San Francisco-based blockchain firm known for its payments network and native token XRP, commented on the results shortly after the election. He noted that pro-crypto legislators secured seats in both parties and reiterated that the estimated 67 million Americans using digital assets represent a lasting community.
Pro-crypto members won on both sides of the aisle and the 67 million—and growing—Americans using crypto are not going anywhere. New Congress, with the same mission: clear rules, built in America.
His remarks followed further comments from Ripple’s Chief Legal Officer Stuart Alderoty, who observed that some analysts might interpret the election as a setback for digital assets. Alderoty emphasized, however, that Fairshake had substantial success in both the primaries and general election contests, as confirmed by initial data from advocacy group Stand With Crypto.
He outlined Ripple’s intention to continue working with both political parties on federal digital asset regulations, including collaboration through super PACs, advocacy organizations, and partnerships with educational nonprofits such as the National Cryptocurrency Association.
Alderoty pointed to the CLARITY Act as the industry’s primary legislative priority. The bill intends to introduce comprehensive federal guidance for crypto markets and establish clear regulatory oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Mini dictionary: The CLARITY Act is a proposed US legislative bill designed to provide a clear regulatory framework for cryptocurrencies, particularly to define the oversight responsibilities of federal agencies such as the SEC and CFTC.
The bill failed to advance in September after the Senate voted 49 to 50 against opening debate. Ongoing discussions are expected to address concerns regarding consumer protection, financial oversight, and industry influence in politics.
Alderoty highlighted that more than 67 million Americans integrate digital assets into their personal finances, business transactions, and payment systems. He added that a growing number of banks and enterprises are beginning to adopt crypto-related services.
Fairshake has committed to sustaining its advocacy through the 2028 election cycle, with reports indicating that the organization retains around $56 million for future political initiatives.
