Crypto PACs Report $2.7M Ad Blitz for US House Races

With 22 days remaining until the United States midterm elections, crypto-aligned political committees have reported a fresh wave of media expenditures targeting congressional races. According to filings with the US Federal Election Commission (FEC), affiliate entities of the Fairshake political action committee launched a $2.7 million spending blitz on Saturday.

The expenditures by the Defend American Jobs and Protect Progress PACs are directed toward media and direct mail productions to support both Democratic and Republican candidates running for the US House of Representatives in 2026. Fairshake is funded largely by contributions from investment banking company Cantor Fitzgerald, cryptocurrency exchange Coinbase, and Ripple Labs.

Targeted Lawmakers and Spending Breakdown

The recent FEC filings outline specific allocations for several congressional incumbents. The expenditures include more than $76,000 for House Majority Whip Tom Emmer, $73,000 for House Agriculture Committee Chair Glenn Thompson, $512,000 for California Representative Pete Aguilar, and $500,000 for New Jersey Representative Josh Gottheimer.

The disclosures follow an announcement by Fairshake days prior detailing plans to endorse an additional 32 House candidates in 2026, including six set to receive $1 million each in supportive media. All targeted lawmakers previously voted in favor of the Digital Asset Market Clarity (CLARITY) Act in 2025, a bill designed to establish market structure rules and grant additional oversight authority to the Commodity Futures Trading Commission.

PAC Reserves and Broader Strategy

As of August, a Fairshake spokesperson reported that the PAC held $122 million in cash on hand to support its midterm election strategy of backing congressional candidates favoring digital asset policy. The strategy also includes opposing former banking committee chair Sherrod Brown in Ohio's Senate race, with at least $30 million allocated for media buys against him.

Following the failure of the CLARITY Act to pass a procedural vote in the Senate in September, Coinbase-backed initiative Stand With Crypto warned that lawmakers who failed to advance the legislation could face consequences at the ballot box.

Key facts

• Fairshake affiliates Defend American Jobs and Protect Progress reported $2.7 million in media spending.
• Filings with the US Federal Election Commission detail ad buys supporting 2026 US House candidates.
• Allocations include $512,000 for Representative Pete Aguilar and $500,000 for Representative Josh Gottheimer.
• The targeted lawmakers previously voted for the 2025 Digital Asset Market Clarity Act.