Gemini · US Senate · CLARITY Act · White House · US Congress · Cointelegraph
FEC filings also indicated no post-CLARITY spending by Fellowship
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Another crypto-aligned PAC funded by Cantor Fitzgerald and Anchorage Digital, or the Digital Freedom Fund, a group backed by Gemini co-founders Tyler and Cameron Winklevoss.
Key facts
- The former Ohio senator lost his 2024 reelection bid to Republican Bernie Moreno after Fairshake spent about $41 million opposing the Democrat
- One PAC backed by Coinbase and Ripple Labs, Fairshake, now plans to pour $30 million into opposing Sherrod Brown in Ohio’s Senate race
- Last week’s US Senate failure to advance a digital asset market structure bill could light a fire under cryptocurrency industry groups seeking to sway key congressional races in the 2026 US midterm
- Stand With Crypto, an initiative launched by Coinbase in 2023, warned that lawmakers who failed to advance the CLARITY Act in Congress last week could face “consequences” in the 2026 midterms based
Summary
Control of the US House and Senate is up for grabs in 2026, and some advocates speculate that the crypto industry could ratchet up attempts to sway elections after the CLARITY vote. Last week’s US Senate failure to advance a digital asset market structure bill could light a fire under cryptocurrency industry groups seeking to sway key congressional races in the 2026 US midterm election that‘s 42 days away. Senators on Sept. 15 voted 49 in favor and 50 against advancing the Digital Asset Market Clarity (CLARITY) Act, significantly reducing the chances of Congress passing the legislation with limited days in session before 2027. While some crypto advocates haven’t ruled out the possibility of CLARITY coming up for another vote before the next session of Congress, at least one of the industry’s political action committees (PACs) isn’t taking any chances.