The largest group of single-issue super PACs in United States history is pouring millions of dollars into congressional races across the country.
Cryptocurrency groups outpaced online betting and data center development groups in federal corporate political spending this election cycle, according to Public Citizen. Crypto-tied organizations have contributed more than $200 million in this election cycle.
The industry is hoping to repeat the success of 2024, when super PACs spent $250 million to elect pro-crypto lawmakers and reshape Congress.
Crypto juggernaut Fairshake and its affiliated super PACs are throwing their support behind 33 House candidates — 19 Republicans and 14 Democrats — seen as key supporters of the industry's priorities.
The network is prioritizing six House incumbents by injecting a baseline of $1 million into their campaigns. Republicans Bryan Steil of Wisconsin, who chairs a digital assets subcommittee in the lower chamber, as well as French Hill of Arkansas and Bill Huizenga of Michigan, who serve as the chair and vice chair of the House Financial Services Committee, respectively. Democratic lawmakers receiving at least $1 million from Fairshake include Reps. Janelle Bynum of Oregon; Derek Tran of California; and Steven Horsford of Nevada.