Fairshake's allied committees spent $2.7 million on House race media with 22 days left before the US midterm elections, according to filings submitted to the Federal Election Commission on Saturday.

The Defend American Jobs and Protect Progress PACs, both affiliates of the crypto-aligned Fairshake network, reported the combined expenditures on media buys and direct mail production. The spending supports Democratic and Republican candidates running for US House seats in 2026.

The money went to named incumbents. House Majority Whip Tom Emmer received more than $76,000 in support. House Agriculture Committee Chair Glenn Thompson got $73,000. California Representative Pete Aguilar drew $512,000. New Jersey Representative Josh Gottheimer took $500,000.

Fairshake is funded largely by contributions from investment banking firm Cantor Fitzgerald, crypto exchange Coinbase and Ripple Labs. A Fairshake spokesperson said in August the PAC held $122 million in cash on hand for its midterm strategy. That strategy, the spokesperson said, aims to seat more pro-digital-asset candidates in Congress.

What does the spending actually buy?

The latest FEC reports followed a separate Fairshake announcement days earlier: endorsements for an additional 32 House candidates in 2026, six of whom will each receive $1 million in supportive media. None of those six appeared in the Defend American Jobs and Protect Progress expenditures. But the incumbent list overlapped — Emmer, Aguilar, Gottheimer and Thompson all made the cut on both.

The PAC is also playing offense. Fairshake has allocated at least $30 million in media buys to oppose former banking committee chair Sherrod Brown in Ohio's Senate race. Brown was among the leading Democrats voting against bills the crypto industry considered favorable while he held the gavel.

Why the CLARITY Act hangs over everything

Every candidate targeted by the new spending voted for the Digital Asset Market Clarity Act in 2025. The bill would set market structure rules for the crypto industry and hand the Commodity Futures Trading Commission greater authority to oversee and enforce them. It passed the House with bipartisan support. It then failed a procedural vote in the Senate in September.

Stand With Crypto, the voter-mobilization initiative Coinbase launched, ranks lawmakers on their crypto-related statements and voting records. After the CLARITY vote collapsed, the group warned that candidates who failed to advance industry legislation could face "consequences" in the midterms. It mobilized crypto-minded voters in 2024 races and is attempting to repeat that effort now.

The pattern is consistent and deliberate. The PAC rewards House members who backed the market structure bill and punishes senators who blocked it. Ohio is the clearest test case.

What does this change for the midterms?

It locks crypto policy into the electoral map. With $122 million banked and more than $2.7 million already moving through affiliated committees in a single filing week, Fairshake can sustain ad pressure across dozens of districts through Election Day. The CLARITY Act's Senate failure gave the PAC a concrete grievance, and Stand With Crypto has promised electoral reprisal for lawmakers who stalled it. Whether that translates into a Senate willing to take up market structure legislation again is the question the November results will begin to answer.