Fairshake backs 32 House races after CLARITY Act stalls

Six House candidates will each get $1 million in planned campaign spending from Fairshake, which is backing 32 incumbents across both parties for November’s midterms. The slate shows how the crypto industry is turning election spending toward lawmakers who supported its stalled market-structure bill.

The Associated Press reported Fairshake’s newly announced slate on Monday, Oct. 5. It includes 19 Republicans and 13 Democrats; all 32 backed legislation that the industry had made a priority.

Which House members will get the $1 million commitments?

Fairshake named three Democrats for the largest disclosed allocations: Reps. Janelle Bynum of Oregon, Steven Horsford of Nevada and Derek Tran of California. The three Republicans are Reps. French Hill of Arkansas, Bryan Steil of Wisconsin and Bill Huizenga of Michigan.

Hill chairs the House Financial Services Committee. Steil leads its digital assets subcommittee, and Huizenga is the committee’s vice chair. Fairshake did not say how much it would spend on the other 26 candidates.

The full slate also includes prominent lawmakers from both parties. Roll Call reported that they include House Democratic Caucus Chair Pete Aguilar and Republican Majority Whip Tom Emmer, as well as committee leaders Lisa McClain, Jason Smith and Glenn Thompson.

Fairshake spokesperson Geoff Vetter described the group as issue-focused and said it backs pro-crypto candidates in both parties. Roll Call reported that the PAC had $108 million on hand at the end of August, based on Federal Election Commission records.

What happened to the legislation they supported?

The candidates backed the CLARITY Act, which would set rules for digital-asset markets and divide oversight among federal regulators. The House passed it in July 2025, but the Senate blocked it in September after lawmakers failed to agree on provisions including ethics limits tied to public officials’ crypto ventures.

Opponents argued the bill did not adequately address President Donald Trump’s crypto investments, according to the Associated Press. The stalled measure leaves the industry without the federal regulatory framework it sought, and Fairshake says it wants to build a larger pro-crypto caucus for the next Congress.

The timing puts campaign spending at the center of the industry’s next push. Fairshake’s House slate backs lawmakers from both parties who supported the bill, even as the group has also targeted a prominent Democrat who opposed its priorities.

How does the House slate compare with Fairshake’s Senate spending?

The House allocations are part of a broader election effort, but the group’s largest disclosed general-election move so far is aimed at Ohio’s Senate race. Fairshake announced plans in September to spend nearly $30 million opposing Democrat Sherrod Brown, who is challenging Republican Sen. Jon Husted.

Fairshake and its affiliated PACs reported about $120 million in cash on hand at the end of August, the Associated Press reported. The group has not said whether it will commit more to House or Senate races before November, so the announced $6 million for six House candidates is only the disclosed portion of its slate’s spending.

Sources

• reported Fairshake’s newly announced slate — apnews.com
• Roll Call reported — rollcall.com