Common Questions

How much money does Fairshake have for 2026 midterms?: Fairshake holds $171.4 million in cash per FEC data, though the PAC publicly claims $193 million. The gap reflects pledges not yet formally reportable.Source: FEC
Is Fairshake donations and crypto bill timing a coincidence?: FEC filing timestamps show Ripple donated $23M nine days before a CLARITY Act committee markup, and Andreessen Horowitz donated $47.6M five weeks before another markup. Critics say the timing is not coincidental.Source: FEC filings
What races is the crypto PAC Fairshake targeting in 2026?: Fairshake operates as a bipartisan vehicle targeting competitive Senate and House races to elect crypto-friendly candidates on both sides of the aisle.Source: event
How much has Fairshake raised for the 2026 midterms?: Fairshake holds $171.4 million in cash on hand per FEC filings and claims $193 million in its war chest, though FEC-filed receipts of $134.6 million are $58.4 million below the claimed figure.Source: FEC filings
Who are the biggest donors to Fairshake?: Andreessen Horowitz contributed $47.6 million in December 2025 and Ripple contributed $23 million nine days before a key Senate committee markup of the CLARITY Act in January 2026.Source: FEC filings
Why is there a gap between what Fairshake claims it has raised and its FEC filings?: The $58.4 million gap between Fairshake's claimed $193 million and its $134.6 million in FEC-filed receipts appears to reflect pledges and in-kind commitments not yet formally reportable under federal election rules.Source: FEC filings
Is Fairshake a Republican or Democrat super PAC?: Fairshake operates as a bipartisan vehicle, targeting both Republican and Democratic races to elect crypto-friendly candidates regardless of party affiliation.

Background

Fairshake is the Cryptocurrency industry's principal political vehicle, holding $171.4 million in cash on hand per the most recent FEC data, though the PAC publicly claims $193 million in its war chest. The $59 million gap between the claimed figure and the $134 million in FEC-filed receipts appears to reflect pledges and in-kind commitments not yet formally reportable .

FEC filing timestamps reveal a direct correlation between crypto industry donations to Fairshake and congressional committee markup schedules. Ripple contributed $23 million nine days before the Senate Agriculture Committee marked up the CLARITY Act on 29 January 2026. Andreessen Horowitz contributed $47.6 million on 10 December 2025, five weeks before the Senate Banking Committee markup on 14 January 2026 . The Cryptocurrency industry overall has committed more than $272 million to the 2026 midterms, more than double its 2024 cycle spend .

Fairshake operates as a bipartisan vehicle, targeting both Republican and Democratic races to elect crypto-friendly candidates. Per FEC filings, the PAC received modest amounts per month in January and February 2026 — a slow-receipts phase consistent with a transition from fundraising to active deployment mode. With $171.4 million in cash, Fairshake has the capacity to intervene decisively in competitive Senate and House primaries.

Fairshake's publicly claimed war chest of $193 million overstates FEC-filed receipts of $134.6 million by $58.4 million — an overclaim gap that widened in the most recent filing cycle. The gap appears to reflect pledges and in-kind commitments not yet formally reportable under FEC rules, but it means the PAC's stated firepower exceeds independently verifiable figures.

Fairshake is the visible anchor of a broader crypto super PAC network that has committed more than $272 million to the 2026 cycle, more than double the industry's 2024 spend. The network also includes Fellowship PAC, whose Q1 FEC filing disclosed only $11 million of a claimed $100 million — a disclosure gap that drew Republican leadership scrutiny after a $1.75 million Paxton ad buy was pulled under pressure. Fairshake's own gap sits alongside Fellowship PAC's as a structural transparency problem for a sector that is simultaneously lobbying for favourable federal legislation.

How the World Sees Them

Crypto industry

Fairshake represents the industry's strategic bet that election spending now buys legislative outcomes faster than lobbying alone; the bipartisan model keeps maximum optionality.

Democratic critics

Argue FEC timestamp data shows explicit quid pro quo between donations and committee markup schedules, warranting investigation.

Congressional Democrats

Fairshake's bipartisan spending forces Democratic candidates to weigh crypto-friendly policy positions against their base's preference for stricter oversight.

Congressional Republicans

Republican leadership is uncomfortable with crypto PAC money backing primary challengers to their preferred candidates, as the Fellowship PAC-Paxton episode illustrates.

Campaign finance reformers

Cite Fairshake as evidence super PACs have rendered campaign contribution limits meaningless through third-party coordination.