Coinbase and a16z lead $78 million Fairshake fund to shape 2026 midterm elections

Fairshake, a nonpartisan super PAC focused on crypto interests in US politics, has successfully raised $78 million to support candidates who advocate for American blockchain and crypto innovation, according to a Nov. 4 statement shared with CryptoSlate.

The funding includes over $30 million currently available and an additional $48 million in new commitments. Among the notable contributors, Coinbase has pledged $25 million, while Andreessen Horowitz (a16z) has donated over $23 million, aiming to influence the midterm elections in 2026.

These significant contributions from a16z and Coinbase follow their earlier donations this year. The donations are part of their efforts to shape US politics in response to what they perceive as mounting regulatory pressures from the authorities.

A spokesperson for Fairshake expressed optimism about the emerging bipartisan support in Congress for policies that protect American consumers, boost job creation, and foster innovation within the crypto and blockchain sectors.

They added:

“We have seen a transformational shift in how both parties look at crypto and blockchain. We look forward to continuing our strategy of supporting candidates on both sides of the aisle who believe in advancing American innovation, creating jobs, and working together to pass responsible regulation.”

Since its founding in 2023, Fairshake has positioned itself as a key player in advocating for favorable regulatory policies in the crypto sector. The PAC is backed by major companies such as Coinbase, Ripple, and a16z, which are all focused on supporting candidates who promote innovation, regulatory clarity, and job creation in the US.

a16z donation

In a Nov. 4 post on X, Chris Dixon, Managing Partner at Andreessen Horowitz, confirmed the firm’s donation. He emphasized their commitment to backing policymakers, regardless of party affiliation, who are willing to create a regulatory environment that safeguards consumers while encouraging industry growth.

Dixon further noted that beyond financial contributions, the firm will actively engage with lawmakers from both parties. They aim to explain blockchain technology’s benefits and unique challenges, including connecting policymakers with entrepreneurs facing regulatory uncertainties.

According to him, crypto has become mainstream and critical to the US’s global standing. Over 40 million Americans own cryptocurrency, and Bitcoin and Ethereum exchange-traded products (ETPs) hold around $65 billion in on-chain assets.

Dixon stated that clear policies are essential to sustain this growth. However, instead of establishing fundamental guidelines, regulators have often resorted to arbitrary enforcement actions that sometimes exclude Congress from the regulatory process.

Considering this, Dixon called for a comprehensive market structure legislation for digital assets in the current and future Congresses. This includes measures to eliminate bad actors, pragmatic stablecoin laws to promote competition, and pathways for compliance for those developing decentralized networks and legitimate businesses in an uncertain regulatory landscape.

The post Coinbase and a16z lead $78 million Fairshake fund to shape 2026 midterm elections appeared first on CryptoSlate.

  • Related Posts

    Coinbase policy executive predicts fast crypto regulation under Trump
    • December 2, 2024

    Coinbase chief policy officer Faryar Shirzad anticipates a rapid push for comprehensive crypto regulation once President-elect Donald Trump begins his new term, CNBC reported on Dec. 2. Shirzad expressed confidence…

    Continue reading
    Bitcoin ETF options: A new tool for risk management and speculation
    • December 2, 2024

    The post Bitcoin ETF options: A new tool for risk management and speculation appeared first on CryptoSlate.

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Coinbase policy executive predicts fast crypto regulation under Trump

    • By
    • December 2, 2024
    • 0 views
    Coinbase policy executive predicts fast crypto regulation under Trump

    Bitcoin ETF options: A new tool for risk management and speculation

    • By
    • December 2, 2024
    • 1 views
    Bitcoin ETF options: A new tool for risk management and speculation

    Enron is back to launch crypto token focused on solving the energy crisis

    • By
    • December 2, 2024
    • 1 views
    Enron is back to launch crypto token focused on solving the energy crisis

    Japanese SBI VC Trade partners with DMM Bitcoin and Metaplanet for asset transfers and BTC giveaway

    • By
    • December 2, 2024
    • 1 views
    Japanese SBI VC Trade partners with DMM Bitcoin and Metaplanet for asset transfers and BTC giveaway

    Michael Saylor tells Microsoft board Bitcoin could boost its market cap by $5 trillion

    • By
    • December 2, 2024
    • 1 views
    Michael Saylor tells Microsoft board Bitcoin could boost its market cap by $5 trillion

    Sora Ventures launches $150 million fund to emulate MicroStrategy’s Bitcoin strategy across Asia

    • By
    • December 2, 2024
    • 1 views
    Sora Ventures launches $150 million fund to emulate MicroStrategy’s Bitcoin strategy across Asia