The 2024 U.S. presidential election isn’t over yet, but politically-minded crypto companies have already turned their attention to fundraising for the 2026 midterm elections.
Venture capital firm Andreessen Horowitz (also called a16z) donated another $23 million to pro-crypto super political action committee (PAC) Fairshake for the 2026 midterm election cycle, according to a blog post from Chris Dixon, a partner at a16z and the founder and leader of its crypto division.
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“Regardless of what happens in the 2024 elections, we’re committed to supporting policymakers, irrespective of party affiliation, who will work to establish a practical regulatory framework that protects consumers while allowing the industry to grow,” Dixon wrote.
With a16z’s fresh contribution, Fairshake and its affiliated PACs – the Democrat-oriented Protect Progress and the Republican-oriented Defend American Jobs – now have $78 million in their coffers for the 2026 midterm elections. Crypto exchange Coinbase committed $25 million to Fairshake last week, and, according to a Fairshake spokesperson, the group has “$30 million in the bank.”
Both Coinbase and a16z are repeat donors to Fairshake, which raised over $200 million in the 2023-2024 election cycle. Coinbase was the single biggest donor: its fresh commitment to Fairshake brings its total contribution to the PAC close to $100 million. A16z’s new contribution brings the firm to about $60 million in commitments to Fairshake.
Crypto firm Ripple has also been a big donor to Fairshake, contributing $50 million to the PAC. When asked if the company planned to make another donation to Fairshake for the 2026 elections, a representative for Ripple did not immediately respond.
Other crypto companies who have donated to Fairshake and its affiliates include Jump Crypto, Circle and Kraken.
Edited by Nikhilesh De.
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Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.
