The crypto Super PAC has spent $140 million, targeting the midterm elections and Congressional crypto week.

The pro-Crypto Assets Super Political Action Committee (Super PAC) Fairshake in the United States announced today that it has reserved up to $140 million in massive funds for next year's midterm elections. This is the result of months of preparation by the organization, aimed at launching a strong political lobbying effort in the final stage.

Key Legislative Vote on Congressional Crypto Week Approaches

Currently, it is the "Crypto Week" in the U.S. Congress, where lawmakers are reviewing three key pro-Crypto Assets industry bills. Although the midterm elections are still far off, these bills are about to be put to a vote. Fairshake's move may be a significant step taken to promote the successful legislation of these proposals.

Crypto giant investors prepare for the midterm elections, Fairshake's fundraising speed draws attention

In the wave of pro-crypto regulation driven by American politics, stakeholders are doing their utmost to ensure the industry secures as many policy victories as possible. To this end, the influential Fairshake announced today that it has reserved $140 million for the midterm elections.

Josh Vlasto, a spokesperson for Fairshake, stated: "Fairshake is stronger than ever, and we remain focused on building lasting support for Crypto Assets and blockchain innovation. We are developing proactive and targeted strategies for next year to ensure that the voices supporting Crypto Assets are heard in key national campaigns."

However, despite the fact that $140 million is a large sum, Fairshake's midterm election "war chest" accumulation speed has noticeably slowed. Last November, its reserves were $103 million, and by January of this year, they had only increased to $116 million. In comparison, less than a month before last year's election, Fairshake spent $40 million, while raising the same amount for the midterm elections took nine months. The trend of cooling in Crypto Assets political donations is worth noting.

Why announce at this time? Congress focuses on Crypto Assets Week

A key reason may be closely related to the ongoing Congressional "Crypto Week". In the coming days, lawmakers will review key crypto legislation, including the new stablecoin regulatory framework. In fact, the procedural voting on these bills has started today, and the timing is highly sensitive.

This sends a clear signal: Fairshake is highly concerned about the fate of these bills and is ready to strongly support members of Congress who back Crypto Assets in the midterm elections. According to Politico, the organization recently received significant financial support from several leading Crypto Assets companies, including Ripple and a16z.

The effectiveness of massive lobbying funds is in doubt; the New York City mayoral race may become a barometer.

The role of Fairshake's funds in the midterm elections remains uncertain. During a recent Senate hearing on the CLARITY Act, Senator John Kennedy derailed the topic with intense questioning about encryption currency campaign donations. The political influence of the industry may spark voter controversy.

In addition, we have seen candidates begin to seek funding support from Fairshake, even though their elections are far ahead of the midterm elections. New York City mayoral candidate Eric Adams has recently branded himself as a crypto-friendly candidate, hoping to gain significant support from the industry. Currently, his opponents discuss cryptocurrency issues less, while Zohran Mamdani leads in the polls. This election battle could become an important barometer to test Fairshake's potential influence on the midterm elections.

Many uncertainties lie ahead, and the current legislative window is urgent

Although there is still time until the mid-term elections, Fairshake has already made its move. The political landscape in the United States may change dramatically in the next year and a half, and voter reactions are hard to predict. However, the legislation being reviewed during the "Crypto Week" is urgent. If Fairshake can successfully lobby senators to continue supporting these bills today, they are likely to become law soon, and the Crypto Assets regulatory framework may see a significant breakthrough.