On Monday, a16z Crypto announced an additional $23 million in funding for Fairshake, for bipartisan support of US crypto regulations. Fairshake, the crypto-oriented political action committee, boasts over $78 million in funds for the upcoming Congressional election cycle, bolstered by a new commitment from the venture capital firm Andreessen Horowitz (a16z).
This comes on the heels of $169 million deployed by crypto firms in the 2024 Congressional races. It is the first time blockchain technology has been prominently placed on the agenda of American legislators.
With at least $30 million still available from this cycle, Fairshake’s total funds have now reached $78 million — for now.
a16z Crypto, the web3 venture capital group at Andreessen Horowitz, said it was committed to supporting US policymakers championing work on a clear crypto regulations that protects consumers and allows it to thrive.
Therefore, a16z pledged over $23 million to Fairshake and its affiliated PACs to spend in the 2026 US midterm elections. The cash will be used to support policymakers dedicated to passing practical legislation that protects consumers while boosting crypto businesses. This follows a $25 million commitment from crypto exchange Coinbase that happened last week.
a16z crypto founder and managing director Chris Dixon stated that regardless of the outcome of the 2024 elections, a16z is committed to supporting policymakers. It’s also regardless of their party affiliation. it’s for the policymakers who aim to establish a practical regulatory framework that protects consumers while allowing the industry to grow.
He confirmed:
“We are contributing over $23 million in additional funds to Fairshake and its affiliated PACs for the 2026 midterm election cycle.”
Dixon also noted that the support will extend across party lines to ensure ongoing bipartisan backing for crypto-friendly policies, regardless of the outcome of the US presidential election.
Highlighting Advocacy Efforts and Calling for Regulatory Clarity
The founder of a16z Crypto said the donation represents part of the firm’s considerable advocacy effort. In addition to the financial resources, the firm plans to work with policymakers on both sides. The main thing is to discuss the benefits of blockchain technology and its particular regulatory needs. It’s also about matching legislators with entrepreneurs and developers in the space.
Dixon added that he thought it was important for policymakers to meet and listen to those working with blockchain. According to him, they were best placed to give an insight into the problems faced by vague legislation and lawsuits.
He also called on the US Congress to establish a workable compliance path for decentralized networks and legitimate crypto businesses. Dixon stated that clarity of regulations is important to pave the way to responsible industry growth. it’s also important to help the country maintain its competitive advantage in global technology innovation.
He emphazised that Congress must accelerate the creation of a robust framework for regulating digital assets. Dixon added that whatever gets decided in Washington, the ramifications will mirror on the future of the potential crypto industry.
The group has become a major player in political fundraising. It raised over $200 million this election cycle with the support of major crypto firms like Ripple and Coinbase. Though super PACs cannot donate directly to political candidates, Fairshake has run campaigns against anti-crypto candidates. This includes California Senate candidate Katie Porter, who lost her primary.
Dixon acknowledged that Fairshake has played an outsized role in raising crypto to the national conversation during this election cycle and said he’s proud the firm continues to support the effort.
Teuta
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Leave a Reply