A crypto-funded political action committee (PAC) is making headlines after amassing a staggering $141 million to influence U.S. elections. Fairshake, backed by giants like Coinbase and Ripple Labs, plans to deploy these funds to shape the outcome of upcoming congressional races—potentially redrawing the legislative map for the crypto industry.

The PAC disclosed raising $52 million in the first half of 2025, with Coinbase alone contributing $25 million. Combined with $109 million raised since November 2024, Fairshake now controls more cash than it spent on the entire 2024 election cycle, where it shelled out over $130 million to support pro-crypto candidates and attack anti-crypto opponents.

Fairshake has already made waves in 2025 by spending over $2 million in three special House elections in Virginia and Florida. Two Florida Republicans, Randy Fine and Jimmy Patronis, secured victories backed by this crypto cash—and are now supporting the GOP-led GENIUS Act aimed at regulating stablecoins.

Formed in 2023, Fairshake didn’t participate in the 2022 elections, when crypto donations were still under the shadow of disgraced FTX founder Sam Bankman-Fried. Now, it’s taking a more structured and legal approach, influencing policy through campaign funding—without directly supporting Donald Trump, though he has received donations from key crypto executives.

With a slim Republican majority in Congress and over 270 “pro-crypto” lawmakers in office, Fairshake’s ongoing efforts may tilt the balance even further in 2026. Their goal: a friendlier regulatory environment for digital assets, with bills on stablecoins, crypto market structures, and central bank digital currencies all on the table.