Crypto-backed group gathers $141M funding to influence US elections

Fairshake reported raising $52 billion from the crypto industry in the first half of 2025, at a time when candidates previously supported by the PAC were providing crucial votes.

Fairshake, a US-based political action committee (PAC) backed by contributions from cryptocurrency companies including Coinbase and Ripple Labs, reported holding $141 million in assets to be used to influence upcoming elections.

In a statement released on Tuesday, Fairshake said it had raised about $52 million in the first half of 2025, with $25 million from Coinbase. This total, including its $109 million raised since November 2024, had the PAC holding more funds than it spent on congressional races in the last US election cycle.

The PAC, through its affiliates Defend American Jobs and Protect Progress, has already spent more than $2 million to support candidates in special congressional elections in 2025 for three House seats in Virginia and Florida.

Read more