Fairshake names 32 House candidates for midterm support
Fairshake plans support for 32 House candidates, including six slated for $1 million each, as the CLARITY Act remains stalled in the Senate ahead of midterms.
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Fairshake on Monday unveiled a bipartisan slate of 32 House candidates it plans to support in November’s midterms, including six slated to receive $1 million each, according to the Associated Press report. The group’s list includes 19 Republicans and 13 Democrats, all of whom backed legislation that was a top priority for the crypto industry.
Which candidates are slated for $1 million?
Fairshake plans to spend $1 million each supporting Democratic Reps. Janelle Bynum of Oregon, Steven Horsford of Nevada and Derek Tran of California. The three Republicans receiving the same level of support are Reps. French Hill of Arkansas, Bryan Steil of Wisconsin and Bill Huizenga of Michigan, the AP reported.
Fairshake did not disclose its planned spending on the other 26 House candidates. The group and its affiliated political action committees reported about $120 million in cash on hand at the end of August, according to the AP.
What legislation did the slate back?
All 32 candidates supported the CLARITY Act, which would establish a federal regulatory framework for digital assets. The bill stalled in the Senate in September after Democrats blocked it; opponents said it did not adequately address President Donald Trump’s crypto investments, the AP reported.
Fairshake is positioning its spending as bipartisan support for candidates who back crypto policy. Spokesperson Geoff Vetter told the AP that Fairshake and its affiliates spent $40 million supporting 29 Democrats and $31 million supporting 28 Republicans in primaries and special elections this year.
Will Fairshake spend more before November?
The group has not said whether it will add House or Senate spending before the election. In September, it announced plans to spend nearly $30 million opposing Democratic Ohio Senate candidate Sherrod Brown, after Senate Democrats helped block the CLARITY Act.
The industry is looking to the next Congress to revive legislation that stalled this year, according to the AP. The November election will determine the next Congress.
Sources and documents
- Associated Press report — apnews.com