Fairshake Spending $25 Million on Pro-Crypto Congressional Candidates

Aug. 08, 2024.
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Digital asset-focused super PAC Fairshake is committing $25 million to support 18 pro-crypto candidates—nine Republicans and nine Democrats—vying for seats in the U.S. House of Representatives. The initiative spans multiple states, including Alaska, California, and New York, with approximately $1 million allocated to each candidate’s campaign.

Fairshake announced this significant investment in a statement on Thursday, highlighting its dedication to bipartisan support for leaders committed to responsible crypto regulation. “We will continue to deploy our resources in support of leaders on both sides of the aisle and in both houses who are committed to getting things done and working with the industry to pass responsible regulation,” the statement read.

The candidates benefiting from this funding include Republicans Zach Nunn, David Valadao, and Juan Ciscomani, and Democrats Nikki Budzinski and Tom Suozzi. The complete list of Fairshake-backed candidates features:

Democrats:

Don Davis (NC-01)
Yadira Caraveo (CO-08)
Steven Horsford (NV-04)
Mary Peltola (AK-AL)
Pat Ryan (NY-18)
Nikki Budzinski (IL-13)
Tom Suozzi (NY-03)
Angie Craig (MN-02)
Eric Sorensen (IL-17)

Republicans:

David Valadao (CA-22)
Mike Garcia (CA-27)
Juan Ciscomani (AZ-06)
Lori Chavez-DeRemer (OR-05)
Zach Nunn (IA-03)
Michelle Steel (CA-45)
Young Kim (CA-40)
Monica De La Cruz (TX-15)
Bryan Steil (WI-01)

This $25 million expenditure marks the first tranche of funds Fairshake plans to invest in pro-crypto candidates ahead of the 2024 U.S. elections. As of August 6, the super PAC has amassed an impressive $203 million for the upcoming election cycle, according to OpenSecrets, a campaign finance watchdog.

Fairshake’s financial influence is already evident. Earlier this summer, 33 out of 35 Fairshake-backed candidates triumphed in their respective House and Senate primary races, as reported by CNBC. The super PAC’s strategic investment aims to bolster candidates who support the burgeoning digital asset industry and advocate for prudent regulatory measures.

Source : Pro-Crypto Super PAC Fairshake Plans to Spend $25 Million on These Congressional Candidates