Nearly 50 primary wins set up November push
Among the network's latest wins, Democratic Representative Jake Auchincloss secured his party's nomination in Massachusetts with support from Protect Progress, the Democratic-focused affiliate. The affiliate spent $189,527 on four mailers backing the incumbent, according to Federal Election Commission disclosures. The Auchincloss primary win showed the network's willingness to support incumbents whose records align with the industry on most, though not all, issues. Stand With Crypto, the Coinbase-backed advocacy group, grades the lawmaker a C, partly because he did not support the GENIUS Act stablecoin legislation.
Beyond individual races, Fairshake and its affiliates defended seven sitting members of Congress who have regularly supported digital asset legislation while also backing first-time candidates from both parties who could enter the House next year. In August, affiliates added victories in Michigan and Washington after spending hundreds of thousands of dollars across the two states. Defend American Jobs, the Republican-focused arm, provided nearly $512,000 in support for Representative Bill Huizenga, while Protect Progress backed Democratic Representatives Suzan DelBene, Kim Schrier and Marilyn Strickland.
Republican Senate candidates dominate prediction odds
The network's most visible results came in Republican Senate primaries, where it helped Barry Moore in Alabama, Andy Barr in Kentucky, Kevin Hern in Oklahoma and Harriet Hageman in Wyoming secure nominations. Hageman is running for the seat held by retiring Senator Cynthia Lummis, one of Congress's most active cryptocurrency supporters.
Prediction traders expect all four to win in November. Contracts on one major platform gave Moore a 99% probability of victory, Hern 97% and Hageman 96%, while another market placed Barr's odds near 94%. Those prices represent trader expectations rather than guaranteed outcomes, and they shift as conditions develop.
If elected, the four Republicans would join a Senate still wrestling with the Digital Asset Market Clarity Act, the proposal that would divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The bill's fate depends heavily on which party controls the chamber and who leads the Banking, Agriculture and Financial Services committees with jurisdiction over crypto policy.
Fairshake spokesperson Geoff Vetter said the organization would maintain its pace through the fall. "With dozens of wins in House and Senate races across the country, and $122 million ready for the fall, we're not slowing down."
Illinois delivers the network's biggest setback
Not every bet paid off. Fairshake failed to stop Illinois Lieutenant Governor Juliana Stratton from winning the Democratic Senate nomination, despite spending more than $10 million against her, the network's largest unsuccessful expenditure of the cycle. Stratton defeated a field that included Representatives Raja Krishnamoorthi and Robin Kelly in the race to succeed retiring Senator Dick Durbin.
The result demonstrated the limits of outside spending. Illinois has consistently elected Democrats in statewide federal races, giving the party's nominee a structural advantage over the Republican contender. Prediction models expect Stratton to enter the Senate next year regardless of the ad barrage.
Consumer advocacy group Public Citizen calculated that crypto companies had contributed a record $189 million to the 2026 cycle by the end of June, about 37% of corporate political contributions in its analysis. Fairshake itself had spent more than $82 million by that point, and the broader network entered the year with roughly $193 million in cash before drawing down to the current $122 million.
Rival PACs trail far behind
Other industry-linked groups have failed to match Fairshake's scale. Fellowship PAC, backed by Cantor Fitzgerald and Anchorage Digital, raised about $11 million after indicating it could spend $100 million. Almost all its spending went to a political firm co-founded by Bo Hines, a former crypto adviser to President Trump who now runs Tether's U.S. operation, a connection that created complications because U.S. committees cannot accept foreign funds.
Most party nominees have already been selected, though primaries remain in New Hampshire, Rhode Island, Delaware and Louisiana. The general election is scheduled for Nov. 3, and the outcome will help decide whether the legislative groundwork laid over the past two years becomes law or stalls with a new Congress.
