More than $78 million in funding has been poured into a pro-crypto PAC by Coinbase, a16z, and other investors for the 2026 election.

• The super PAC Fairshake has reported raising $78 million for the 2026 midterms in support of pro-crypto candidates.
• Coinbase and Andreessen Horowitz have both committed to donating a combined total of $48 million.
• Fairshake has raised approximately $170 million in this cycle and disbursed around $135 million.

In the 2026 midterm elections, crypto companies have already contributed millions of dollars, with Fairshake, a pro-crypto and bi-partisan super PAC, raising $78 million on Monday.

The $78 million raised includes more than $30 million from centralized crypto exchange and Silicon Valley venture fund Andreessen Horowitz, among other companies.

On Monday, Chris Dixon, a general partner at a16z and head of the fund's crypto book, published a note explaining the reason behind the company's $23 million contribution to Fairshake.

The letter stated that regardless of the outcome of the 2024 elections, the organization would continue to support policymakers, regardless of their political affiliation, who would work to create a practical regulatory framework that safeguards consumers while allowing the industry to flourish.

Dixon emphasized that supporting Fairshake PAC is a vital component of the strategy to achieve our larger policy objectives, and a16z will continue to engage with policymakers on both sides of the aisle to promote the industry.

Fairshake has received $70 million in funding from a16z to support its mission of creating a Congress with pro-crypto legislators.

On Wednesday, Coinbase declared that it would provide an additional $25 million to Fairshake.

The largest U.S. crypto exchange, Coinbase, was sued by the Securities and Exchange Commission for allegedly engaging in unregistered sales of securities. Despite this, Coinbase remains a top contributor to Fairshake during this cycle, having given over $75 million to the platform and its affiliated PACs.

Coinbase CEO Brian Armstrong stated during the company's third-quarter earnings call that pro-crypto legislation is necessary in this country. Despite this, shares dropped 15% after the company reported a miss on both the top and bottom lines.

Fairshake has received approximately $47 million in political donations from Ripple Labs this election cycle. CNBC attempted to obtain comment from the company regarding their plans to donate to the 2026 midterm election, but has not yet received a response.

Fairshake has raised approximately $170 million in this cycle and disbursed around $135 million.

The majority of the group's funds can be traced back to Coinbase, Andreessen Horowitz, and Ripple Labs. The remaining balance comes from a mix of companies and individual donors. For instance, Coinbase CEO Brian Armstrong donated $1 million, while the Winklevoss twins contributed $5 million.

In 2024, Fairshake, a consortium of crypto firms, emerged as one of the top-spending PACs, despite the historical dominance of oil companies and banks as political contributors. A report from Public Citizen revealed that nearly half of all corporate money flowing into the election came from the crypto industry.

The crypto industry has been successful in winning 36 out of 42 primary races that received funding from crypto-backed super PACs, according to a report by Public Citizen.

Fairshake's corporate and individual donors want crypto laws in the U.S.

Comprehensive market structure legislation for digital assets and a law to regulate stablecoins, which are now commonly associated with U.S. dollar-pegged coins, are being sought by Dixon and others.

Dixon wrote on Monday that numerous industries request to reverse regulations in DC, while his group seeks to establish them.