The Fairshake PAC disclosed to the FEC that it spent more than $760,000 on a media buy to support Wisconsin Representative Bryan Steil, running for reelection in 2024.
The cryptocurrency-backed political action committee (PAC) Fairshake has announced one of its last expenses ahead of Election Day in the United States, supporting a Republican candidate in Wisconsin.
According to an Oct. 28 filing with the Federal Election Commission, Fairshake reported spending over $760,000 on a media buy backing Wisconsin Representative Bryan Steil, who is seeking reelection in the state’s 1st congressional district.
With just seven days remaining until U.S. voters choose their congressional representatives and president, this expenditure on Rep. Steil is likely one of Fairshake’s final moves before Election Day.
Steil, who has represented Wisconsin in Congress since 2019, previously voted in favor of the Financial Innovation and Technology for the 21st Century Act and also supported a resolution to overturn the U.S. Securities and Exchange Commission’s Staff Accounting Bulletin No. 121.
On Nov. 5, he will face off against Democrat Peter Barca, who is currently trailing Steil by three points according to an October poll.
The Republican Party holds a narrow majority in the U.S. House of Representatives, though this could shift in January as all 435 seats are up for election.
PACs like Fairshake have directed millions of dollars from cryptocurrency companies and executives to support pro-crypto lawmakers or oppose candidates perceived as less friendly to the industry.
Seven Days Until U.S. Election
The Wisconsin race is just one of several anticipated to be tightly contested.
As of October, polls show Vice President Kamala Harris and Republican Donald Trump running a close race for the U.S. presidency. Both candidates have indicated they plan to support the crypto industry if elected.
Trump has received endorsements from many industry figures, including Gemini co-founders Cameron and Tyler Winklevoss, while other industry leaders, such as Ripple co-founder Chris Larsen and entrepreneur Mark Cuban, have publicly backed Harris.
