Crypto PACs prepare to increase midterm spending after CLARITY vote setback

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Crypto PACs increase midterm spending

Highlights

The U.S. Senate's 49-50 vote on Sept. 15 against advancing the CLARITY Act reduces the likelihood of passing the digital asset market structure bill this session.
Fairshake, backed by Coinbase and Ripple Labs, plans $30 million to oppose Sherrod Brown in Ohio, following $41 million spent in the 2024 cycle and over $130 million overall.
Coinbase's Stand With Crypto initiative will use the CLARITY vote to guide PAC spending and candidate ratings for 2026 midterms impacting congressional control.

Midterm spending plans sharpen after Senate vote

As reported by Cointelegraph, the U.S. Senate voted 49 to 50 on Sept. 15 against advancing the Digital Asset Market Clarity, or CLARITY, Act, weakening the chances of passing the market structure bill with limited legislative days remaining before the next Congress.

Some crypto advocates still leave open the possibility of another vote in the lame-duck session, but industry-backed political groups are already preparing for an electoral fight. Fairshake, a PAC backed by Coinbase and Ripple Labs, plans to spend $30 million opposing Sherrod Brown in Ohio’s Senate race, reflecting concern that lawmakers skeptical of crypto could block future progress on the bill.

Economist Paul Krugman wrote in a Tuesday Substack post that Brown could become a decisive vote in a Democratic Senate majority. Steve Gannon, a partner at Davis Wright Tremaine, told Cointelegraph the CLARITY vote gives the industry a clearer view of which lawmakers are dependable long-term supporters, and he said those who opposed the measure may struggle to argue they still deserve financial backing from the sector.

The industry has already shown its willingness to spend heavily in Ohio. Fairshake spent about $41 million opposing Brown in the 2024 cycle, when he lost his reelection bid to Republican Bernie Moreno, and the PAC deployed more than $130 million on ads during that election cycle overall.

Election pressure builds across crypto policy campaigns

Stand With Crypto, an initiative launched by Coinbase in 2023, says lawmakers who failed to move the CLARITY Act forward could face consequences in the 2026 midterms. The group rates politicians based on their crypto positions, and its stance could shape how aligned PACs direct money toward selected races in contests that may determine control of both the Senate and the House of Representatives.

Executive director Mason Lynaugh said the outcome of the vote identifies which officials support the crypto community and which do not, adding that the organization intends to mobilize advocates accordingly in this election and future contests. That positioning suggests the failed Senate vote is becoming not only a legislative setback but also a campaign organizing tool for the industry.

As of Monday, Fairshake and its affiliated PACs, Defend American Jobs and Protect Progress, had not disclosed new spending to the Federal Election Commission after the vote. Federal filings also showed no post-CLARITY expenditures from Fellowship, another crypto-aligned PAC backed by Cantor Fitzgerald and Anchorage Digital, or from the Digital Freedom Fund, which is supported by Gemini co-founders Tyler and Cameron Winklevoss.

Our earlier coverage of 2026 midterm fundraising showed Republicans entering September with a sizable cash advantage across the national party committees, led by a wide gap between the RNC and DNC. We also noted that allied groups and ad reservations further strengthen GOP flexibility in the campaign’s final stretch, even as Senate committee cash levels were a partial exception.

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