Political action committees (PACs) associated with Fairshake disclosed spending $1.5 million on advertising for four election campaigns in the states of Florida, Alaska, and Wyoming.
This concerns support for candidates for the U.S. House of Representatives and Senate.
According to the Federal Election Commission, the PAC structure Defend American Jobs directed over $500,000 to support Nick Begich in the election for Alaska's at-large congressional district in the House of Representatives.
The committee spent a similar amount on advertising in support of Republican Sydney Gruters in Florida's 16th district and Harriet Hageman in Wyoming.
The Protect Progress organization reported spending over $50,000 on the re-election of Lois Frankel in Florida's 23rd district.
Almost all politicians who received support voted in Congress for the GENIUS Act and CLARITY Act.
U.S. Senate postponed vote on CLARITY Act to September
The disclosure of expenditures occurred after the defeat of incumbent Democratic Congressman Shri Thanedar in the primary for Michigan's 13th district. Protect Progress spent over $2 million on his media support, but the candidate lost to state representative Donovan McKinney.
In the 2024 election cycle, Fairshake and other cryptocurrency industry-linked PACs have spent a total of over $170 million on races for the House and Senate.
Recall that in May 2026, CoinDesk wrote that cryptocurrency funds had increased their influence on U.S. elections.
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