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Jakub Porzycki | Nurphoto | Getty Images
Fairshake, the cryptocurrency industry’s most powerful political action committee, announced Tuesday that it now holds more than $141 million in cash on hand, underscoring the sector’s growing influence as Congress takes up landmark legislation this week.
The total, which includes liquid assets like crypto, stock, and cash, reflects a surge of donations from digital asset executives and firms, including a fresh $25 million from Coinbase.
Fairshake and its two affiliated PACs — Defend American Jobs and Protect Progress — have raised $109 million since Election Day in 2024 and $52 million during just the first half of this year.
“We are building an aggressive, targeted strategy for next year to ensure that pro-crypto voices are heard in key races across the country,” said spokesperson Josh Vlasto.
The announcement lands in the middle of what lawmakers are calling “Crypto Week” on Capitol Hill, as the House begins deliberations on a trio of long-awaited bills that would define how digital assets are regulated.
The legislation includes the dividing of oversight, setting new stablecoin rules, and a bill banning the creation of a central bank digital currency.
The crypto industry is no longer just lobbying for survival, it is shaping the political landscape. Fairshake saw nearly every candidate it backed in 2024 win their race.
“We stuck to our core strategy from Day 1,” Fairshake previously told CNBC. “We supported pro-crypto candidates and opposed those who played politics with jobs and innovation, and won.”
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