Crypto PACs Dramatically Escalate Political Spending in Final Stretch of 2026 Midterms

Fairshake Ramps Up Anti-Brown Campaign

The cryptocurrency industry is significantly amplifying its political intervention in the 2026 midterm elections. According to filings with the Federal Election Commission, Defend American Jobs—an affiliate of the Fairshake political action committee backed by major crypto firms including Coinbase and Ripple Labs—has allocated $46.6 million toward media opposing Democratic Senator Sherrod Brown’s bid to retain his Ohio seat. This represents a substantial increase from the $30 million the group had initially announced in September, reflecting a spending surge of more than 50% as voting moves into its final stretch.

Brown, who previously chaired the Senate Banking Committee, has been a vocal skeptic of cryptocurrency industry policies and regulatory preferences. The Democratic lawmaker’s prominent opposition to crypto-friendly legislation made him a natural target for industry spending. In a recent interview, Brown characterized the ad campaign as part of a broader pattern: “I’ve spent my career taking on Wall Street, taking on big pharma, taking on big oil and been successful in many cases.”

Multiple Industry Groups Intensify Campaign Activities

Fairshake is not operating alone in its political push. The Digital Freedom Fund, a Super PAC founded by Gemini co-founders Tyler and Cameron Winklevoss, has injected approximately $3 million in advertising this week specifically targeting the Ohio race, bringing the organization’s total media expenditure there to over $5.9 million. Additionally, The Fellowship—a committee with backing from Cantor Fitzgerald and Anchorage Digital—has reported spending exceeding $11 million between August 2025 and August 2026 on media supporting various House and Senate candidates aligned with crypto interests.

The Ohio race is not Fairshake’s sole focus. The affiliate has also allocated more than $6.7 million toward opposing Independent candidate Dan Osborn in Nebraska’s Senate race against Republican Pete Ricketts. Notably, Ricketts previously supported digital asset legislation while serving in office, though Fairshake appears focused on other objectives in that contest.

Industry Mobilization Strategy and Scale

These expenditures underscore the cryptocurrency sector’s determination to reshape Congress in its favor. Fairshake has explicitly stated its intention to “back pro-crypto candidates” and was reported to hold $193 million in available funds as of January 2026. The Ohio spending alone already exceeds the $41 million Fairshake deployed in the 2024 cycle, demonstrating the escalation of crypto industry political investment.

With roughly three weeks remaining until Election Day and early voting already underway in Ohio for ten days, the timing and scale of these spending decisions highlight how significant industry actors view the stakes in congressional races. The willingness to dramatically increase planned expenditures reflects confidence in the effectiveness of political advertising in these final weeks.

Source: Federal Election Commission, via Cointelegraph. Not financial advice.