The crypto-backed super PAC Fairshake recorded its first wins of the 2026 primary cycle in Michigan and Washington State, cementing its status as a heavyweight in U.S. campaign finance.
🔑 Key Takeaways
- Fairshake boasts a record of 38 wins and 2 losses across 40 primary races in the 2026 cycle.
- Republican Bill Huizenga (Michigan) received nearly $512,000 from Defend American Jobs, Fairshake’s GOP affiliate.
- Three Democratic incumbents in Washington (DelBene, Schrier, Strickland) clinched their nominations with Protect Progress support.
- The PAC entered the period with more than $135 million in cash after raising $193 million in January.
- Major funders include Coinbase, Ripple, and Andreessen Horowitz (a16z).
Michigan: Huizenga locks in his seat, Thanedar under fire
In Michigan, Republican Bill Huizenga secured his party’s nomination for Congress. According to AP election data compiled by Tech Influence Watch, his campaign received nearly $512,000 from Defend American Jobs. A16z, Winklevoss Capital and Coinbase also backed his bid. Huizenga will face Democratic state Senator Sean McCann in November.
« As lawmakers, it is ultimately our responsibility to provide the regulatory clarity needed to ensure the U.S. dollar remains the dominant reserve currency, and I believe stablecoins can help achieve that. »
Bill Huizenga, March 2025, House hearing on stablecoins
In Michigan’s 13th district, Protect Progress poured roughly $1 million into media spending to defend Democratic incumbent Shri Thanedar against challenger Donavan McKinney, two weeks before the August 4 Democratic primary. FEC filings show the PAC spent more than $986,000 on advertising. In 2024, the same PAC had backed Thanedar with about $1 million, helping him win 54.9% in the first round and 68.6% in November.
Thanedar voted for several landmark crypto bills, including the CLARITY Act, the GENIUS Act, and the Promoting Innovation in Blockchain Development Act. His crypto exposure also cut both ways: he lost more than $600,000 in Q2 2026 after investing $3.7 million of campaign funds in crypto companies.
Washington: three Democrats and a Republican advance
In Washington State, Democratic incumbents Suzan DelBene, Kim Schrier, and Marilyn Strickland all secured their party’s nomination, while Republican Amanda McKinney also advanced. All four received financial backing from Fairshake affiliates, per Tech Influence Watch data.
| Candidate | Party | District | Backing PAC | Amount (USD) |
|---|---|---|---|---|
| Suzan DelBene | Democrat | WA-1 | Protect Progress | $113,120 |
| Kim Schrier | Democrat | WA-8 | Protect Progress | $105,040 |
| Marilyn Strickland | Democrat | WA-10 | Protect Progress | $103,020 |
| Amanda McKinney | Republican | WA-4 | Defend American Jobs | $506,917 |
Amanda McKinney, the Republican candidate in the 4th district vacated by Rep. Dan Newhouse (who announced in 2025 he would not seek re-election), made at least one public statement in favor of crypto. Defend American Jobs spent more than $65,000 on advertising to support her.
Fairshake: a war chest north of $135 million
Fairshake remains a dominant force in the 2026 cycle after emerging as one of the largest political spenders in 2024. In January, the PAC reported raising $193 million ahead of the November midterms. According to Politico, the group began the period with more than $135 million in cash on hand, a sizeable war chest to influence general-election matchups.
The structure comprises three affiliated super PACs — Fairshake, Defend American Jobs, and Protect Progress — that support lawmakers from both parties who take a pro-crypto stance. Most of the funding comes from Coinbase, Ripple, and venture capital firm Andreessen Horowitz.
« At this critical moment for America’s global leadership, we are proud of our results in helping build a durable and growing caucus of crypto-literate lawmakers to deliver responsible regulation that protects consumers and innovators. »
Geoff Vetter, Fairshake spokesperson
The PAC also poured more than $100,000 into supporting the re-election of Rep. Greg Stanton in Arizona, who voted for the CLARITY Act and the GENIUS Act. Stanton won his primary with 65% of the vote.
A flattering track record — and rising criticism
According to Politico, Fairshake boasts a record of 38 wins and 2 losses across 40 congressional races it has engaged in this year. The two setbacks: the PAC tried to defeat Democratic state Sen. Juliana Stratton in Illinois with more than $10 million and state Rep. La Shawn Ford with more than $2 million — both still won their Democratic primaries.
On the Democratic side, Rep. Christian Menefee, backed by Fairshake, ousted veteran Rep. Al Green in Texas in May. The PAC spent $1.5 million on ads against Green, a long-time crypto critic who holds an F rating from the advocacy group Stand With Crypto. Since no candidate crossed the 50% threshold, the race heads to a runoff.
« These groups are institutions — they like to have a good batting average. And if you want a good batting average, you limit how many times you step up to the plate against major-league pitchers. »
Rep. Brad Sherman, vocal crypto critic
Rep. Sean Casten, another critic, was more dismissive of the PAC’s impact in his state’s primaries: « I often think they’re looking for a win they can claim as their own. It’s not always necessarily a win where they were decisive. »
Eyeing the midterms: Ohio in the crosshairs
The strategic question now is how Fairshake will deploy its war chest in general-election races that could decide control of Congress. Several Republicans are pushing the PAC to invest in the competitive Ohio Senate race, which features former Democratic Sen. Sherrod Brown — an outspoken crypto critic during his tenure chairing the Senate Banking Committee — against a Republican challenger. Fairshake already spent more than $40 million to help defeat Brown in 2024 and could replicate that playbook in 2026.
With a roughly 95% win rate in primaries and more than $135 million still in the bank, Fairshake is poised to play a decisive role in shaping the next Congress.
Sources
This article is published for informational and educational purposes only. It does not constitute investment advice. Do your own research (DYOR) before making any decision.
