Two political action committees affiliated with the crypto industry's Fairshake network have spent more than $1.5 million on media supporting four candidates across three states ahead of primary elections scheduled for August 18. The spending, reported Thursday, spans House and Senate races in Alaska, Florida, and Wyoming, and comes from Defend American Jobs and Protect Progress — the Republican- and Democrat-focused sister PACs that funnel money from Fairshake's broader war chest.
The largest checks went to incumbents with voting records the industry views favorably. In Alaska's at-large congressional district, Defend American Jobs put over $500,000 behind Representative Nick Begich, who voted for both the CLARITY Act and the GENIUS Act. In Wyoming, the same PAC spent roughly $500,000 supporting Representative Harriet Hageman's bid for the Senate seat being vacated by retiring Senator Cynthia Lummis — a seat that has taken on outsized importance for the industry given Lummis's long-standing role as a crypto ally in the chamber. Hageman also backed both bills.
A Split Bet in Florida
Florida saw money flow to candidates on both sides of the aisle. Defend American Jobs committed approximately $500,000 to Republican Sydney Gruters in the 16th District, a candidate with no public record on crypto legislation identified in the PAC's disclosures. Meanwhile, Protect Progress spent over $50,000 supporting Democratic incumbent Lois Frankel in the 23rd District, who — like Begich and Hageman — voted for both the CLARITY Act and the GENIUS Act.
Part of a Much Larger Push
The $1.5 million represents a small slice of Fairshake's overall footprint this cycle. The network and its affiliates entered the 2026 midterms with roughly $193 million in combined cash on hand, and crypto-aligned groups had already spent close to $189 million across primary races nationwide as of a Reuters tally in June — nearly $60 million more than the group spent during the entire 2024 cycle, when it outspent every other single-issue PAC in the country.
Related: CFTC Chair Selig: Agency Will Write Crypto Rules if CLARITY Act Fails
That scale reflects a deliberate strategy: rather than concentrating resources on marquee national races, Fairshake and its affiliates have repeatedly targeted down-ballot primaries where a relatively modest check can tip a close contest, rewarding lawmakers who backed industry-friendly legislation and, in some cases, working to unseat those who didn't. With primaries in all three states landing on the same August 18 date, the latest round of spending offers an early read on how much influence that strategy is buying heading into the general election.
