a16z crypto pledges $23 million to Fairshake PAC for 2026 US midterm pro-crypto candidates

a16z crypto, the web3 venture capital arm of the investment firm Andreessen Horowitz, announced Monday its commitment to support U.S. policymakers who aim to establish a clear regulatory framework for the cryptocurrency sector that protects consumers and enables industry growth.As part of this strategy, a16z has pledged over $23 million to Fairshake and its affiliated political action committees (PACs) for the 2026 U.S. midterm elections."Regardless of what happens in the 2024 elections, we’re committed to supporting policymakers, irrespective of party affiliation, who will work to establish a practical regulatory framework that protects consumers while allowing the industry to grow. That’s why today, we are contributing over $23 million in additional funds to Fairshake and its affiliated PACs for the 2026 midterm election cycle," a16z crypto founder and managing director Chris Dixon said in a blog post on Monday.Dixon noted that the backing will extend across party lines, in an effort to ensure continued bipartisan support for crypto-friendly policies regardless of the outcome of the U.S. presidential election.The a16z crypto founder added that supporting Fairshake is only one part of the firm’s broader advocacy strategy. In addition to financial contributions, the firm plans to meet with policymakers from both parties to outline the benefits of blockchain technology, address its unique regulatory challenges, and introduce lawmakers to entrepreneurs and developers in the space."We will introduce policymakers to entrepreneurs and creators building with blockchain technology to show first-hand the challenges they face when laws are murky but lawsuits are plenty," Dixon added.Dixon further urged U.S. Congress to consider creating a viable compliance pathway for decentralized networks and legitimate crypto businesses. For the industry to grow responsibly and for the U.S. to retain its edge in global tech innovation, he emphasized that regulatory clarity is crucial.Dixon emphasized that for the U.S. Congress, time is of the essence in terms of when to implement a robust digital asset regulatory framework."The crypto industry has had to organize because the stakes are high, and the decisions made in Washington now will determine whether the promising industry and innovations, and the technology and investments that come with it, will remain in the U.S.," he stated.Fairshake has emerged as a significant player in political fundraising, raising over $200 million this election cycle with contributions from major crypto firms, including Ripple and Coinbase. While super PACs are not allowed to donate money directly to political candidates, Fairshake has run ads against anti-crypto candidates, with California senate candidate Katie Porter — who lost her primary — as a notable example."Fairshake has done a tremendous job in bringing crypto into the national conversation for this election cycle, and we’re proud to continue our support," Dixon said.