Fairshake, a top pro-crypto super PAC, spent nearly $29 million in September to back pro-crypto candidates in tight House races across the U.S., aiming to shape future cryptocurrency policy. Data from

Top crypto PAC targets close House races as 2024 election hits final stages

Top pro-crypto super PAC spends $29M in September to back candidates in tight House races

A top pro-crypto super PAC, Fairshake, spent nearly $29 million in September to support candidates in tight House races across the U.S., aiming to shape future cryptocurrency policy.

Data from the Federal Election Commission (FEC) shows a significant portion of this money went to competitive districts, bolstering candidates who are favorable to the cryptocurrency industry.

Fairshake’s September spending revealed

Of Fairshake’s September spending, $20 million was funneled into two affiliated PACs: Defend American Jobs PAC and Protect Progress PAC.

Defend American Jobs PAC, which focuses on cryptocurrency and blockchain policy, allocated $15 million to support Republican candidates, while Protect Progress PAC directed $5 million toward Democratic candidates.

Fairshake, a super PAC that supports candidates favorable to the cryptocurrency industry, has disclosed its spending during the September reporting period. This spending aimed to influence the upcoming 2024 election, particularly in battleground states and districts.

According to data from the Federal Election Commission (FEC), Fairshake spent heavily in several critical House races to support candidates who have expressed positive views on cryptocurrency regulation.

Among the candidates who received substantial backing from Fairshake were Reps. Patrick Ryan (D-NY) and Steven Horsford (D-NV), who faced tough challenges in their respective races. Fairshake also donated to candidates from both parties, with a slight lean toward Democrats.

Crypto donations surge in 2024 election cycle

Crypto-related donations have surged throughout the 2024 election cycle, with a report from Public Citizen in August revealing that crypto companies have contributed nearly $190 million, which is almost half of all corporate donations this cycle.

Of that, over $130 million was spent on congressional races, making Fairshake one of the largest super PACs in the U.S. With the crypto industry heavily investing in political campaigns, the future of legislation like the Financial Innovation Technology Act of 2021 (FIT21) remains a hot topic.

Although the bill passed the House in May, it has yet to be considered by the Senate.

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