Two groups affiliated with the cryptocurrency industry-backed political action committee (PAC) Fairshake have disclosed more than $1.5 million in media spending to support House and Senate candidates in Florida, Alaska, and Wyoming, following a primary defeat in Michigan on Tuesday.

According to Federal Election Commission (FEC) filings as of Thursday, Fairshake-affiliated super PACs Defend American Jobs and Protect Progress collectively directed $1.5 million toward advertising for both Republican and Democratic candidates — many of whom supported the Digital Asset Market Clarity (CLARITY) Act during their time in Congress. The CLARITY Act would establish a federal regulatory framework for digital assets by delineating oversight responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), a division the crypto industry has long sought to clarify. (FEC filing)

In Alaska's at-large congressional district, where a primary is scheduled for Aug. 18, Defend American Jobs spent over $500,000 on media backing the re-election of Representative Nick Begich. The super PAC allocated roughly the same amount to Republican candidate Sydney Gruters in Florida's 16th district and to Representative Harriet Hageman, who is running for the Wyoming Senate seat that will be vacated by incumbent Cynthia Lummis. Primaries in both states will also take place on Aug. 18.

Michigan Primary Setback

The new expenditures come on the heels of a primary loss for a Protect Progress-backed candidate in Michigan's 13th Congressional District. On Tuesday, Democratic incumbent Shri Thanedar was defeated by State Representative Donavan McKinney, despite the super PAC investing more than $2 million in media supporting Thanedar's campaign. Thanedar's current term in Congress runs through January 2027. (Cointelegraph)

Democratic Spending and Crypto Voting Records

On the Democratic side, Protect Progress reported spending more than $50,000 to support the re-election of Representative Lois Frankel in Florida's 23rd district. Frankel, Begich, and Hageman each voted in favor of both the GENIUS Act and the CLARITY Act while serving in Congress. Gruters, by contrast, has not made extensive public statements on cryptocurrency or blockchain policy, though she indicated support for the crypto market structure bill in a questionnaire conducted by the advocacy organization Stand With Crypto. (Stand With Crypto)

The latest filings add to a broader pattern of Fairshake and other cryptocurrency industry-aligned organizations seeking to shape U.S. election outcomes through media investments. Backed by major industry firms including Coinbase, Ripple, and Andreessen Horowitz, Fairshake reported spending over $170 million on House and Senate races during the 2024 election cycle — placing it among the most financially active super PACs of that cycle and an outlay that may have influenced the composition of the current Congress.

CLARITY Act Votes Could Shape 2026 Midterms

As of Thursday, it remained unclear whether the U.S. Senate would vote on the CLARITY Act before the chamber adjourns for a month-long recess. However, how lawmakers vote on the legislation could determine whether the crypto industry lends support or opposition to their re-election campaigns. All 435 House seats and 33 Senate seats will be contested in 2026. (Cointelegraph)

In January, Stand With Crypto identified its primary objective for 2026 as advancing crypto market structure legislation through Congress. The organization's community director, Mason Lynaugh, told Cointelegraph in November that lawmakers' votes on the bill could affect their re-election prospects. Stand With Crypto evaluates political candidates on a scale ranging from "strongly supports crypto" to "strongly against crypto," based on their voting records and public statements — assessments that PACs and industry organizations may consult when directing financial support.