Fairshake backs 32 House candidates as crypto bill stalls
Fairshake named 32 House candidates for midterm support, with six slated for $1 million each, as a stalled Senate bill leaves crypto market rules unresolved.
Crypto Daybook Newsroom2 min read
Crypto group Fairshake has named 32 House candidates it plans to support in November’s midterms, including six set to receive $1 million each. The slate spans both parties as the industry seeks lawmakers who back a federal framework for digital asset markets, according to the Associated Press report published Oct. 5.
Who is on Fairshake’s House slate?
The list includes 19 Republicans and 13 Democrats. The six candidates slated for $1 million each are Democrats Janelle Bynum of Oregon, Steven Horsford of Nevada and Derek Tran of California, and Republicans French Hill of Arkansas, Bryan Steil of Wisconsin and Bill Huizenga of Michigan.
Fairshake has not said how much it will spend on the other 26 candidates. Its list also includes House leaders and committee chairs, among them Democratic Caucus Chair Pete Aguilar of California, Republican Majority Whip Tom Emmer of Minnesota and Ways and Means Chairman Jason Smith of Missouri.
Roll Call’s report said the candidates all supported the market structure bill when it passed the House in July 2025. The measure, called the CLARITY Act, would set rules for digital asset markets.
Why is Fairshake focusing on these races now?
The bill stalled in the Senate after lawmakers failed to agree on ethics rules, including safeguards against public officials benefiting from their own crypto ventures. The Senate blocked it in September on a procedural vote. The industry is now looking to the next Congress to revive the legislation.
Fairshake says it backs candidates from either party based on their support for crypto. Spokesperson Geoff Vetter said the group and its affiliated PACs spent $40 million supporting 29 Democrats and $31 million supporting 28 Republicans in primaries and special elections this year.
How much money does Fairshake have for the midterms?
Fairshake and its affiliated PACs reported about $120 million in cash at the end of August, according to AP. Roll Call cited Federal Election Commission records showing $108 million on hand for Fairshake PAC itself at that point. The group has also announced plans to spend nearly $30 million opposing Democratic Senate candidate Sherrod Brown in Ohio, a race separate from its House slate.
References
- Associated Press report — apnews.com
- Roll Call’s report — rollcall.com