FairShake
A coordinated network of crypto-funded super PACs working to shape cryptocurrency and blockchain policy, and among the best-funded political operations of the cycle. FairShake is the lead committee, distributing funds to the conservative-focused Defend American Jobs and the progressive-focused Protect Progress. All three draw on the same core donor base — chiefly Coinbase, Ripple, and Andreessen Horowitz. The party-split structure lets the network back candidates in both parties’ primaries while casting itself as nonpartisan, though its spending has leaned toward Republicans. It concentrates on independent expenditures, funding ads to boost crypto-friendly candidates and oppose those seen as hostile to the industry — ads that typically make no mention of cryptocurrency. An affiliated dark money group, the Cedar Innovation Foundation, is not required to disclose its donors.
The FairShake super PAC is a single-issue committee focused on cryptocurrency and blockchain policy. Launched in late 2023 and bankrolled chiefly by Coinbase, Ripple, and Andreessen Horowitz, it backs crypto-friendly candidates and targets perceived industry opponents through two affiliated PACs — Defend American Jobs, which supports Republicans, and Protect Progress, which supports Democrats. FairShake casts itself as nonpartisan, framing its goal as electing pro-crypto lawmakers of either party; in practice its spending has tilted toward Republicans.
Defend American Jobs is FairShake’s Republican-facing affiliate, a single-issue committee focused on cryptocurrency and blockchain policy. It draws on the same backers as FairShake, and spends to support pro-crypto Republican candidates and oppose those seen as hostile to the industry.
Protect Progress is FairShake’s Democratic-facing affiliate, a single-issue committee focused on cryptocurrency and blockchain policy. It draws on the same backers as FairShake, and spends to support pro-crypto Democratic candidates and oppose those seen as hostile to the industry.
The Cedar Innovation Foundation is a crypto-aligned 501(c)(4) dark money group that runs issue ads and campaigns against lawmakers seen as hostile to the industry. Incorporated in Delaware in 2023, it does not disclose its donors, its leadership, or its location. Reporting has tied it to the FairShake super PAC network — the two share a spokesman — though Cedar denies any formal connection. It has run ads targeting crypto-skeptic senators and opposing SEC nominees, and provided seed funding to the industry’s American Innovation Project.
The American Innovation Project (AIP) is a 501(c)(3) nonprofit launched by the crypto industry in 2025 to “educate” policymakers on cryptocurrency and blockchain technology. As a tax-exempt educational group it is barred from substantial lobbying and must cast its work as nonpartisan education rather than advocacy — though several of its board members come from established crypto-advocacy organizations, and the line between education and lobbying may be tested in practice. It is backed by crypto entities including Coinbase, Kraken, DCG, Paradigm, Andreessen Horowitz, and the Cedar Innovation Foundation crypto dark money group.