Crypto-focused political action committee Fairshake won 29 of 34 decided races in the 2026 U.S. midterm elections, according to a November 4 report by Reuters. The result came alongside a significant loss in Ohio, where Democrat Sherrod Brown defeated Republican Senator Jon Husted despite more than $60 million in spending by crypto-backed political committees.

Democrats regained control of both the House of Representatives and the Senate in the November 3 elections. The party will control the legislative agenda for the final two years of President Donald Trump’s term.

Crypto Industry Spending and Election Results

Industry-linked political groups spent about $176 million across more than 100 congressional races by late October, crypto.news reported. Fairshake and its affiliates accounted for most of the spending. The political action committee is backed by companies including Ripple and Coinbase, as well as venture capital firm Andreessen Horowitz.

Fairshake’s House campaign initially targeted 32 incumbents, including 19 Republicans and 13 Democrats who had supported the CLARITY Act. Among the candidates who won, Republican Senator Pete Ricketts defeated independent challenger Dan Osborn in Nebraska following heavy spending by crypto groups. Republican Andy Barr won a Senate seat in Kentucky after receiving industry support during his primary campaign.

Several Democratic candidates supported by Fairshake also advanced to Congress. The group’s House targets included Financial Services Committee Chairman French Hill and Representatives Bryan Steil and Bill Huizenga. Steil and Huizenga both lost their reelection bids, adding to the setbacks for industry-backed campaigns.

The Ohio contest was a repeat matchup for crypto-aligned political groups. Brown, a longtime critic of the crypto industry, lost his Senate seat in 2024 after another expensive campaign involving crypto-backed organizations.

Ripple Leaders Maintain Bipartisan Focus

Ripple CEO Brad Garlinghouse said in a November 5 post on X that pro-crypto lawmakers had won seats in both parties. “New Congress, with the same mission: clear rules, built in America,” he wrote.

Pro-crypto members won on both sides of the aisle….and the 67M (and growing) Americans using crypto aren’t going anywhere. New Congress, with the same mission: clear rules, built in America. — Brad Garlinghouse (@bgarlinghouse) November 4, 2026

He added that the estimated 67 million Americans who use crypto were not going anywhere. Garlinghouse’s post followed a longer statement from Ripple Chief Legal Officer Stuart Alderoty.

Alderoty acknowledged that some observers would describe the election results as a setback for crypto. He said the industry’s performance should be assessed separately from the performance of either political party. He also said Fairshake had achieved meaningful results in both the primary elections and the general election.

Alderoty cited early data from advocacy group Stand With Crypto showing that many crypto-friendly lawmakers had won across party lines. He said Ripple would continue working with both parties on federal rules for digital assets.

The company plans to remain involved through super PACs, advocacy groups and educational efforts with nonprofit organizations such as the National Cryptocurrency Association.

CLARITY Act Remains Industry Priority

The crypto industry’s principal legislative goal remains the CLARITY Act. The bill would establish federal rules for crypto markets and clarify the respective roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The legislation stalled in September after a Senate motion to begin debate failed by a vote of 49 to 50. Future negotiations will involve lawmakers who have raised concerns about consumer protection, financial oversight and the industry’s political influence. Any renewed effort will therefore be shaped by both the new party control of Congress and the concerns that prevented the Senate from beginning debate.

Alderoty said more than 67 million Americans use digital assets for personal finances, business and payments. He also said banks and businesses are increasingly adopting crypto services.

Fairshake has said it intends to remain active during the 2028 election cycle. The group reportedly has about $56 million available for future campaigns.

https://x.com/bgarlinghouse/status/2118070325300617387?ref_src=twsrc%5Etfw