Fairshake backs 32 House candidates after crypto bill stalls

Crypto political group Fairshake plans to support 32 House candidates in November’s midterm elections, including six who will each get $1 million in spending. The slate spans both parties as the industry looks to revive market rules legislation that stalled in the Senate. The Associated Press report says the list includes 19 Republicans and 13 Democrats.

Which candidates will get the $1 million commitments?

Three Democrats—Reps. Janelle Bynum of Oregon, Steven Horsford of Nevada and Derek Tran of California—are among the six. The other three are Republicans: Reps. French Hill of Arkansas, Bryan Steil of Wisconsin and Bill Huizenga of Michigan. Roll Call’s report identifies Hill as chair of the House Financial Services Committee, Steil as chair of its digital assets subcommittee and Huizenga as the committee’s vice chair.

Fairshake has not said how much it will spend on the other 26 House races. The six disclosed commitments total $6 million, but that does not set the budget for the full slate. Fairshake is a super PAC, a political group that can raise and spend money independently of candidates’ campaigns.

What happened to the crypto market rules bill?

The House passed the CLARITY Act in July 2025. The bill would set federal rules for digital asset markets, an industry priority. It then stalled in the Senate, where lawmakers did not reach agreement on ethics safeguards and other parts of the measure. The Senate blocked it in a procedural vote in September, according to Roll Call.

Fairshake’s latest House slate backs lawmakers who supported the bill. The group says its work is issue-focused and supports pro-crypto candidates in both parties. Its spokesperson, Geoff Vetter, said Fairshake and its affiliated groups spent $40 million supporting 29 Democrats and $31 million supporting 28 Republicans in primaries and special elections this year, the AP reported.

How much more could Fairshake spend?

The group has not said whether it will make further spending commitments before Election Day. Fairshake and its affiliated PACs reported about $120 million in cash at the end of August, according to the AP. The group also plans to spend nearly $30 million against Democratic Senate candidate Sherrod Brown in Ohio, its largest general-election investment announced so far.

The spending comes as the crypto industry looks to the next Congress to take up legislation again. The midterm results will determine which lawmakers return to Washington, and whether supporters of the stalled bill can build a path forward.

References

• Associated Press report — apnews.com
• Roll Call’s report — rollcall.com