Crypto Super PAC Fairshake Spent About $154.5M on Midterms; Backed Candidates Won Roughly 92% of Races

November 9: According to Crypto in America, crypto super PAC Fairshake and its affiliated groups Protect Progress and Defend American Jobs spent $154.5 million in the midterm elections, covering 93 races; candidates they backed won 86 and lost only 7, a success rate of roughly 92%. In primaries they went 53-4 (28-0 in Republican primaries), and in general elections 33-3. Major victories included Nebraska Senator Pete Ricketts and Kentucky Senator Andy Barr.

But some of the large spending did not pay off. In Ohio, about $56.6 million was spent backing Republican Jon Husted against longtime crypto critic Sherrod Brown; Brown ultimately won and returned to the Senate, and may chair the Agriculture Committee and influence the CFTC as well as crypto market structure legislation. House Digital Assets Subcommittee Chairman Bryan Steil and Vice Chairman Bill Huizenga also both lost.