Crypto Industry-Backed Fairshake PAC Secures Wins in Three US State Primary Elections

Crypto industry-backed Fairshake PAC and its affiliates invested $20 million in May 20, 2026 US state primary elections, securing wins for four Republican candidates and one Democrat across Georgia and Kentucky congressional races. The PAC, funded primarily by Ripple Labs and Coinbase and holding a $193 million war chest, operates through Republican-focused Defend American Jobs and Democrat-focused Protect Progress, spending between $455,000 and $7.4 million per race. Fairshake is also targeting incumbent Al Green in Texas' 18th district with over $4 million in support for challenger Christian Menefee, citing Green's votes against crypto legislation including the GENIUS and CLARITY Acts. The victories suggest crypto industry money may significantly influence the 2026 midterms, though the PAC suffered a notable loss when Illinois Lieutenant Governor Juliana Stratton won despite $8 million spent opposing her.

Fairshake PAC primary election victories

• ▪Four Republican candidates and one Democrat won their respective primaries for US Senate and House of Representatives seats in Georgia and Kentucky on May 20, 2026, with support from crypto industry-backed PACs.
• ▪Clay Fuller won the Republican primary in Georgia's 14th Congressional district on May 20, 2026.
• ▪Jasmine Clark won the Democratic primary in Georgia's 13th Congressional district on May 20, 2026.
• ▪Andy Barr won the Republican primary for Kentucky's US Senate seat on May 20, 2026.
• ▪Barry Moore will head to a runoff election for Alabama's US Senate seat against state Attorney General Steve Marshall and Republican candidate Jared Hudson after none of the three secured a majority of the vote in the primary on May 20, 2026.

Campaign spending by candidate

• ▪Defend American Jobs spent $7.4 million to support Barry Moore in his run for Alabama's US Senate seat.
• ▪Defend American Jobs spent $7.2 million for media to support Andy Barr for Kentucky's US Senate seat.
• ▪Defend American Jobs spent $455,000 for media to support Clay Fuller in Georgia's 14th district.
• ▪Defend American Jobs spent $431,000 for media to support Jim Kingston in Georgia's 1st district.
• ▪The Fairshake PAC and its affiliates poured a combined $20 million into supportive media for the May 20, 2026 primary races.
• ▪Defend American Jobs spent $709,000 for media to support Houston Gaines in Georgia's 10th district.
• ▪Protect Progress spent more than $4.2 million to support Jasmine Clark in Georgia's 13th Congressional district.

Texas runoff election dynamics

• ▪Protect Progress spent more than $4.1 million to support Christian Menefee, who is running to unseat incumbent Al Green in Texas' 18th Congressional District.
• ▪Neither Christian Menefee nor Al Green secured a majority of the vote in a March 2026 primary, triggering a runoff election scheduled for May 27, 2026.
• ▪Protect Progress spent more than $1.5 million opposing Al Green ahead of the March 2026 primary against Christian Menefee.

Al Green opposition spending

• ▪Protect Progress spent more than $2.8 million on media to oppose Al Green as of May 20, 2026.

Fairshake 2026 election strategy

• ▪Fairshake spent $8 million opposing Illinois Lieutenant Governor Juliana Stratton in her US Senate primary, but Juliana Stratton beat other candidates with more than 40% of the vote.
• ▪Fairshake's $193 million war chest far surpasses its 2024 expenditures of $130 million on media and ads to support congressional candidates.
• ▪Fairshake reported holding a $193 million war chest in 2026.
• ▪Fairshake and its affiliates are expected to spend millions of dollars in 2026 to oppose anti-crypto politicians and support pro-crypto leaders.

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