TLDR
Crypto PAC Fairshake won 29 of 34 decided races, according to Reuters’ November 4 report.
More than $60 million in crypto spending failed to stop Sherrod Brown from winning in Ohio.
Democrats regained control of the House and Senate in the November 3 midterm elections.
Ripple CEO Brad Garlinghouse said pro-crypto candidates won seats in both parties.
Fairshake reportedly has about $56 million available for the 2028 election cycle.
The crypto industry’s largest political action committee won most of its decided races in the 2026 US midterm elections. Fairshake had won 29 of the 34 races decided as of November 4, according to Reuters.
The scorecard came with a costly loss. In Ohio, Democrat Sherrod Brown defeated Republican Senator Jon Husted despite more than $60 million in spending by crypto-backed political committees.
The results arrived as Democrats regained control of both the House of Representatives and the Senate in the November 3 elections. The party will now control the legislative agenda for the final two years of President Donald Trump’s term.
Where the Crypto Money Went
Industry-linked political groups spent about $176 million across more than 100 congressional races by late October, crypto.news reported. Fairshake and its affiliates accounted for most of that total.
Fairshake is backed by companies including Ripple, Coinbase and venture capital firm Andreessen Horowitz. Its House campaign first targeted 32 incumbents, including 19 Republicans and 13 Democrats who had supported the CLARITY Act.
Among the wins, Republican Senator Pete Ricketts defeated independent challenger Dan Osborn in Nebraska after heavy spending by crypto groups. Republican Andy Barr won a Senate seat in Kentucky after receiving industry support in his primary.
Several Democratic candidates backed by Fairshake also advanced to Congress. The group’s House targets included Financial Services Committee Chairman French Hill and Representatives Bryan Steil and Bill Huizenga.
Steil and Huizenga both lost their reelection bids. Those losses added to the setbacks for industry-backed campaigns.
The Ohio race was a repeat matchup for the industry. Brown, a longtime critic of crypto, lost his Senate seat in 2024 after another expensive campaign involving crypto-backed groups.
Ripple Leaders Say the Mission Is Unchanged
Ripple CEO Brad Garlinghouse said in a November 5 post on X that pro-crypto lawmakers had won seats in both parties. “New Congress, with the same mission: clear rules, built in America,” he wrote.
Pro-crypto members won on both sides of the aisle….and the 67M (and growing) Americans using crypto aren’t going anywhere.
New Congress, with the same mission: clear rules, built in America. https://t.co/daRze1F6lQ
— Brad Garlinghouse (@bgarlinghouse) November 4, 2026
He added that the country’s estimated 67 million crypto users were not going anywhere. His post followed a longer statement from Ripple Chief Legal Officer Stuart Alderoty.
Alderoty acknowledged that some observers would call the election a setback for crypto. He said the industry’s results should be judged separately from how either political party performed.
He said Fairshake had achieved meaningful results in both the primaries and the general election. He also cited early data from advocacy group Stand With Crypto showing many crypto-friendly lawmakers won across party lines.
Alderoty said Ripple would keep working with both parties on federal rules for digital assets. The company plans to stay involved through super PACs, advocacy groups and education efforts with nonprofits such as the National Cryptocurrency Association.
The industry’s top legislative goal remains the CLARITY Act. The bill would set federal rules for crypto markets and clarify the roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission.
The bill stalled in September when a Senate motion to begin debate failed by a vote of 49 to 50. Future talks will involve lawmakers who have raised concerns about consumer protection, financial oversight and the industry’s political influence.
Alderoty said more than 67 million Americans use digital assets for personal finances, business and payments. He also said banks and businesses are increasingly adopting crypto services.
Fairshake has said it plans to stay active in the 2028 election cycle. The group reportedly has about $56 million available for future campaigns.
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