Fairshake backs 32 House candidates after crypto bill stalls

Fairshake, a major cryptocurrency political action committee, has named 32 House candidates for midterm support, including six slated for $1 million each, as the industry seeks lawmakers who back digital-asset rules. The Associated Press report says the slate includes 19 Republicans and 13 Democrats, all of whom supported legislation that was a priority for the crypto industry.

The spending works through electoral campaigns: Fairshake directs political support toward selected candidates, aiming to build a larger pro-crypto group in Congress. The committee has not disclosed how much it plans to spend on the other 26 candidates, so the six announced $1 million amounts do not show the full size of the House effort.

Who is slated to receive the $1 million amounts?

Three Republicans and three Democrats are named for $1 million each. According to Roll Call’s account of Fairshake’s announcement, the Republicans are House Financial Services Committee Chairman French Hill of Arkansas, Digital Assets Subcommittee Chairman Bryan Steil of Wisconsin and committee vice chair Bill Huizenga of Michigan. The Democrats are Janelle Bynum of Oregon, Steven Horsford of Nevada and Derek Tran of California.

The remaining 26 candidates are part of the same bipartisan slate, but Fairshake has not stated their individual support amounts. The group said it backs candidates in both parties based on their crypto positions. Its affiliated committees and Fairshake reported about $120 million in cash on hand at the end of August, according to AP.

What happened to the legislation these candidates supported?

The candidates backed the CLARITY Act, which would establish a federal framework for digital-asset markets and divide oversight between federal regulators. The House passed the bill in July 2025, but the Senate blocked it in September 2026 after lawmakers failed to agree on ethics safeguards related to public officials’ crypto ventures, Roll Call reported.

The dispute centered in part on whether the bill adequately addressed President Donald Trump’s crypto investments. AP reported that Democrats sought stronger restrictions and enforcement; negotiations did not produce an agreement before the Senate vote. That left the industry’s regulatory framework unresolved in Congress.

After the Senate vote, Fairshake also pledged nearly $30 million in spending against Democratic Senate candidate Sherrod Brown in Ohio. The House slate is a separate part of the group’s election activity: its announcement covers 32 candidates, while the specific spending disclosed for six totals $6 million.

The change is a shift from a stalled legislative push to support for candidates ahead of November’s midterms. What to watch next is whether Fairshake discloses additional amounts for the House races, and whether the next Congress returns to the CLARITY Act.

References

• Associated Press report — apnews.com
• Roll Call’s account of Fairshake’s announcement — rollcall.com