Crypto PAC Fairshake plans significant expenditures in the closing stages of the 2024 U.S. elections, focusing on candidates rather than crypto issues.

Upcoming $40 Million Expenditure by PAC Fairshake

Fairshake is set to spend over $40 million in the final weeks of the elections, adding to the $140 million already deployed in congressional races across the country. Backed by major players like Coinbase, Ripple Labs, and Andreessen Horowitz, the PAC is active in key contests. In the past four months, the PAC has spent $40 million in support of Republican candidate Bernie Moreno in Ohio.

Fairshake's Strategy: Influence Without Mentioning Crypto

Fairshake's bipartisan spending has sparked controversy. Their ads rarely mention cryptocurrency or blockchain, focusing instead on the candidates and their values. In February, the PAC spent $10 million attacking Katie Porter, a California Senate candidate opposing crypto legislation, who lost the primary. This outcome is seen as validation of the PAC's strategy.

Political Contexts and Controversies

Fairshake's support has been controversial among its donors. Venture capitalist Ron Conway criticized Coinbase CEO Brian Armstrong for backing the Trump-aligned candidate Moreno. Fairshake's influence is perceived as significant, impacting candidate positions.

Crypto PAC Fairshake continues to exert influence on the U.S. election process, focusing on candidates and their positions through significant financial investments.