Overview
- Fairshake disclosed Monday that it will support 32 incumbent House members, consisting of 19 Republicans and 13 Democrats, and has disclosed at least $1 million in independent spending for six high-profile lawmakers.
- Every lawmaker on Fairshake’s list voted for the CLARITY Act, the House-passed market-structure bill that failed a key Senate cloture vote on Sept. 15, leaving the industry’s main legislative priority stalled.
- The PAC and its affiliates reported roughly $120 million in cash heading into September and have separately pledged about $30 million to oppose former Sen. Sherrod Brown in Ohio’s Senate contest.
- Three of the $1 million recipients are senior Financial Services Committee Republicans—French Hill, Bill Huizenga and Bryan Steil—and the other three are Democrats Janelle Bynum, Steven Horsford and Derek Tran, all of whom hold roles that touch crypto policy.
- By protecting incumbents who backed the bill, Fairshake aims to shape committee lineups and bargaining leverage in the next Congress which matters because Senate rules require 60 votes to advance major market-structure legislation and the upper chamber will determine whether the industry gets clearer federal rules.