CNBC

03/21/2025

Affiliates of the Fairshake super PAC, a fundraising group that helped elect pro-crypto candidates up and down the ticket, is trying to boost Republican candidates in two Florida races, which could determine whether Republicans hold their thin House of Representatives majority.

Early voting in Florida begins this weekend. Democrats are aiming to flip both seats in races that have brought in more than $16 million combined, with the vast majority of the cash going towards backing the challengers. The districts have historically leaned red, but Democrats see an opportunity to compete due to the market and economic volatility that have headlined President Trump’s first two months in office.

Fairhsake, which aims to shape Congress in a way that supports favorable crypto regulation, is backed by crypto companies including Coinbase and Ripple as well as venture firm Andreessen Horowitz. It emerged as a major political force in the 2024 House and Senate races, outraising sectors like oil and banking. Fairshake and its affiliates brought in around $170 million in the 2024 cycle, and have $116 million in cash on hand.