As the 2024 U.S. presidential election draws to a close, crypto-focused companies are shifting their focus towards fundraising for the 2026 midterm elections.
Venture capital firm Andreessen Horowitz, also known as a16z, has made an additional donation of $23 million to the pro-crypto super PAC Fairshake, according to a blog post by Chris Dixon, a partner at a16z and the founder of its crypto division. Dixon emphasized that regardless of the outcome of the 2024 elections, the firm remains committed to supporting policymakers from all parties who will work towards establishing a practical regulatory framework that balances consumer protection with industry growth. With this new contribution from a16z, Fairshake and its affiliated PACs, including Protect Progress and Defend American Jobs, now have a combined total of $78 million for the 2026 midterm elections.
This comes after crypto exchange Coinbase committed $25 million to Fairshake, bringing the group's total funds to $30 million. Both Coinbase and a16z are repeat donors to Fairshake, which raised over $200 million in the 2023-2024 election cycle.
Coinbase has been the largest donor, with its latest commitment bringing its total contribution to nearly $75 million, while a16z's new donation brings its total commitment to approximately $60 million. Other notable donors to Fairshake include Ripple, Jump Crypto, Circle, and Kraken.
Ripple, which contributed $50 million to Fairshake in the 2023-2024 election cycle, intends to remain a significant force in Washington, D.C. for years to come, although no new fundraising announcements have been made.