Fairshake backs 32 House candidates after crypto bill stalls

Fairshake said Monday, Oct. 5, it will support 32 House candidates in November’s midterms, with $1 million in spending for six lawmakers, according to The Associated Press’s report.

• 19 Republicans and 13 Democrats are on the slate.
• Six candidates will each get $1 million in support.
• Fairshake and its affiliated PACs had about $120 million on hand at the end of August.

The group did not say how much it plans to spend on the other 26 candidates. All 32 supported legislation that was a priority for the crypto industry.

Which House candidates will receive the most support?

Three Republicans and three Democrats will each receive $1 million in spending, Fairshake said. The Democrats are Reps. Janelle Bynum of Oregon, Steven Horsford of Nevada and Derek Tran of California.

The Republicans are Reps. French Hill of Arkansas, Bryan Steil of Wisconsin and Bill Huizenga of Michigan. Hill chairs the House Financial Services Committee; Steil leads its digital assets subcommittee, and Huizenga is the committee’s vice chair.

The other candidates include lawmakers in leadership and committee roles. The full slate includes Democratic House Caucus Chair Pete Aguilar of California, Republican Majority Whip Tom Emmer of Minnesota, Republican Conference Chair Lisa McClain of Michigan and Ways and Means Chairman Jason Smith of Missouri.

What stalled in the Senate?

The House passed a digital asset market structure bill in July 2025, but it languished in the Senate for more than a year. The legislation aimed to set rules for digital asset markets and divide oversight among federal regulators, according to Roll Call’s account of the announcement.

Senators failed to agree on ethics protections, including measures addressing whether public officials could profit from crypto ventures. The Senate blocked the bill in September on a procedural vote, after Democrats raised concerns about President Donald Trump’s crypto investments, AP reported.

“Procedural” means the vote was about whether the bill could advance, rather than a final vote on its passage. The dispute leaves the legislation’s future uncertain as the midterms approach.

How much more could Fairshake spend?

Fairshake has not disclosed its intended total for the 32 House races or whether it will spend more in House or Senate contests before November. Its reported $120 million in cash on hand included affiliated PACs, giving the group substantial funds available but not revealing how it will allocate them.

The House slate follows a separate, larger Senate commitment. Fairshake announced plans in September to spend nearly $30 million opposing Democratic candidate Sherrod Brown in Ohio, where he is challenging Republican Sen. Jon Husted.

Fairshake says it backs pro-crypto candidates in both parties. The slate gives it potential allies in the next Congress, but the candidates’ support for past legislation does not guarantee how they will approach future bills.

Sources and documents

• The Associated Press’s report — apnews.com
• Roll Call’s account of the announcement — rollcall.com