Crypto PAC Fairshake Steps Up For an Encore in Florida Special Elections

The crypto political action committee that stunned U.S. politics last year, Fairshake, successfully weighed in again in a pair of Florida special elections

A crypto political action committee (PAC) that made waves in U.S. politics last year continued its efforts by playing a role in a pair of special elections in Florida to replace Republican members of Congress, likely adding to its list of lawmakers who have the industry to thank for campaign support.

A primary election closed Tuesday night, giving pro-crypto candidates supported by $700,000 in Fairshake money overwhelming victories in both seats. Both seats, Florida's 1st District vacated by former Representative Matt Gaetz and 6th District vacated by former Representative Mike Waltz, are staunchly Republican, meaning the primary winners — Jimmy Patronis in the 1st and Randy Fine in the 6th — are likely to move on to general-election wins in the April 1 ballot.

The two Florida seats in the House of Representatives opened after President Donald Trump tapped their occupants for other duties. Among them was Gaetz, who flamed out as Trump's attorney-general pick amid accusations he'd paid for sex with a minor and purchased illegal drugs. The other was the seat of Waltz, who Trump elevated as his national security adviser.

The expected wins would also further bolster the GOP's slim House majority, which remains so narrow that a gust of political wind in the wrong direction could derail the Republican agenda there.

One of Fairshake's super-PAC affiliates, Defend American Jobs, backed the Florida politicians. Patronis, who as the state's chief financial officer has pushed for Florida to embrace crypto in its own state finances, and Fine, who has also publicly argued for supporting crypto, each received about $200,000 and $500,000, respectively, from the PAC.

"We were proud to support both candidates with TV ad campaigns," said Josh Vlasto, a spokesman for Fairshake, which is still sitting on more than $100 million to spend on the next congressional campaign cycle. "The industry looks forward to collaborating with them and the hundreds of members on both sides of the aisle committed to working together to pass responsible regulation."

Super PACs are permitted to spend unlimited sums on ads for or against candidates, as long as they're "independent expenditures" purchased without involvement from the campaigns. Fairshake spent $139 million to help get 53 crypto-friendly lawmakers into 2025's new Congress, with one in ten of the sitting lawmakers being backed by Fairshake-funded ads.