The crypto-aligned PAC spent over $130 million on 2024 races but failed to unseat a Democratic incumbent in Florida.
A crypto-focused political action committee, Fairshake PAC, lost a key Democratic primary in Florida’s 24th congressional district despite pouring over $130 million into 2024 election ads. The PAC, which held a $193 million war chest as of January, targeted candidates it deemed pro-crypto while opposing those critical of the industry, spending $82 million ahead of the 2026 midterms.
The group funded ads in the Florida race, including ones accused of using fake headlines to misrepresent the incumbent’s positions. A PAC spokesperson defended the ads, calling them factually accurate, while the winning candidate avoided mentioning crypto in his victory speech.
Fairshake claimed progress in other primaries, vowing to build a “pro-crypto Congress.” Lawmakers return in September to debate the Digital Asset Market Clarity Act, a bill aimed at regulating digital assets.