- Fairshake affiliates Defend American Jobs and Protect Progress spent over $1.5 million on media supporting candidates in Florida, Alaska, and Wyoming.
- The spending follows a primary loss for a Protect Progress-backed candidate in Michigan’s 13th Congressional District.
- Several supported candidates voted in favor of the CLARITY Act and GENIUS Act, reflecting crypto industry priorities.
- How lawmakers vote on crypto legislation could influence industry support in the 2026 midterm elections.
Two groups affiliated with the cryptocurrency-backed PAC Fairshake disclosed spending over $1.5 million on media to support House and Senate candidates in Florida, Alaska, and Wyoming after suffering a primary loss in Michigan on Tuesday. According to FEC filings, affiliates Defend American Jobs and Protect Progress spent a combined $1.5 million on ads for candidates who voted in favor of the Digital Asset Market Clarity (CLARITY) Act.
In Alaska, Defend American Jobs spent over $500,000 supporting Rep. Nick Begich’s re-election. The group allocated similar amounts for Republican candidate Sydney Gruters in Florida’s 16th district and Rep. Harriet Hageman in Wyoming’s Senate race. These expenditures followed a primary loss for a Protect Progress-supported candidate in Michigan, where Democratic incumbent Shri Thanedar lost to State Representative Donavan McKinney after the Super PAC spent over $2 million on media support.
On the Democratic side, Protect Progress reported spending over $50,000 supporting Rep. Lois Frankel in Florida’s 23rd district. Frankel, Begich, and Hageman all voted for the GENIUS Act and CLARITY Act, while Gruters indicated support for the crypto market structure bill in a questionnaire. Fairshake has spent over $170 million in the 2024 election cycle on House and Senate races.
How lawmakers vote on the CLARITY Act could affect industry support for their re-election bids in 2026, when all 435 House seats and 33 Senate seats are up for election. Stand With Crypto rates candidates based on voting records and public statements, which PACs may use to allocate funds.
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