Skip to main content
BitCurrent

Crypto markets, protocols and policy

Fairshake backs 32 House candidates as crypto bill stalls

Fairshake will back 32 House candidates, including six with $1 million each, as the Senate stalls on crypto market rules and the industry eyes the next Congress.

BitCurrent Newsroom2 min read

Fairshake backs 32 House candidates as crypto bill stalls

The crypto industry is looking to the next Congress after a major market-structure bill stalled in the Senate.

Fairshake, a major crypto political spending group, announced support for 32 House candidates ahead of November’s midterms, according to the Associated Press report. The slate spans both parties and backs lawmakers who supported legislation sought by the industry.

  • 32 candidates: 19 Republicans and 13 Democrats.
  • Six candidates are set to receive $1 million each.
  • Fairshake and affiliated PACs reported about $120 million in cash at the end of August.

Which lawmakers are set to get the largest support?

Three Republicans and three Democrats are slated for $1 million each, Fairshake told AP. They are Reps. French Hill, Bryan Steil and Bill Huizenga on the Republican side, and Janelle Bynum, Steven Horsford and Derek Tran among Democrats.

The group did not disclose how much it plans to spend on the other 26 candidates. Its slate also includes senior lawmakers such as House Democratic Caucus Chair Pete Aguilar and Republican Majority Whip Tom Emmer, according to Roll Call’s report on the slate.

What happened to the crypto market-structure bill?

The House passed the CLARITY Act in July 2025, but the Senate blocked it in September on a procedural vote. The bill would establish federal rules for digital-asset markets, a priority for crypto firms.

Senators had not reached agreement on ethics guardrails addressing public officials’ crypto ventures, among other points. The Senate vote left the legislation stalled, while Fairshake’s candidate list puts money behind lawmakers who supported it.

How much more will Fairshake spend?

That remains open. Fairshake has not said whether it will spend more in House or Senate races before November, AP reported. The group separately announced nearly $30 million in planned spending against Ohio Democratic Senate candidate Sherrod Brown after the Senate blocked the bill.

The confirmed House commitment is therefore limited to the six disclosed $1 million allocations; the total planned spend across all 32 races is not public.

Source material