Fairshake PAC spends $1.5 million on crypto-friendly candidates after Michigan defeat

Strategic spending targets key districts

Federal Election Commission (FEC) records filed through Thursday reveal that both PACs directed significant advertising support toward Republican and Democratic candidates who have taken pro-digital asset market positions. Many of those backed by these groups voted in favor of the Digital Asset Market Clarity (CLARITY) Act during their tenure in Congress.

In Alaska’s at-large congressional district, which is set for a primary election on August 18, Defend American Jobs allocated over $500,000 to promote Representative Nick Begich’s re-election. A comparable amount was dedicated to Republican Sydney Gruters in Florida’s 16th district, as well as Representative Harriet Hageman, who is competing for Wyoming’s soon-to-be-vacant Senate seat currently held by Cynthia Lummis. Both Florida and Wyoming will also hold primaries on August 18.

On the Democratic side, Protect Progress recorded more than $50,000 in media spending to support the re-election of Lois Frankel in Florida’s 23rd district. Frankel, Begich, and Hageman have all supported legislative measures like the GENIUS Act and CLARITY Act while in Congress, whereas Gruters has expressed support for crypto regulatory changes via a questionnaire but has made limited public commentary on the sector.

Response to Michigan primary outcome

The surge in spending came shortly after the PACs’ candidate in Michigan’s 13th Congressional District, incumbent Shri Thanedar, lost his primary bid to State Representative Donavan McKinney. Protect Progress had invested over $2 million in supporting Thanedar’s campaign. Thanedar’s current term is set to end in January 2027.

Crypto industry aims to shape policy

These transactions illustrate how Fairshake and other cryptocurrency-aligned organizations continue to leverage media expenditures to influence the outcomes of US legislative elections. Throughout the 2024 election cycle, the Super PAC has reported total spending exceeding $170 million on House and Senate races, contributing to shifting the congressional landscape.

Looking ahead, whether the US Senate would proceed with a vote on the CLARITY Act before the chamber’s scheduled month-long recess remained uncertain on Thursday. The manner in which lawmakers vote on this legislation may affect future support from crypto-focused PACs, as the industry closely monitors decisions involving crucial regulatory measures. All 435 House seats and 33 Senate seats will be contested in the 2026 midterms.

Stand With Crypto, a key advocacy group, maintains that advancing crypto market structure legislation is its top legislative priority for 2026. Community director Mason Lynaugh has indicated that lawmakers’ voting records carry significant weight in determining future endorsements, explaining that the group assesses candidates on a scale ranging from “strongly supports crypto” to “strongly against crypto.” These ratings inform where PACs and industry organizations allocate support and funding.

Stand With Crypto evaluates candidates based on their voting history and public statements, offering a scale from “strongly supports crypto” to “strongly against crypto,” and influencing how PACs decide which races to support financially.