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Crypto's Fairshake PAC Backs Republicans With Last-Minute Cash in Florida Races
The high-profile campaign operation is putting $1.5 million into Florida special elections that could have significant consequences for the House GOP majority.
Updated Mar 21, 2025, 8:03 p.m. Published Mar 21, 2025, 2:18 p.m.
What to know:
- Two U.S. House of Representatives seats up for grabs in Florida's special election have drawn new money from the crypto sector's super PAC, Fairshake.
- The seats are key for Republicans to maintain their tight House majority.
- One of the openings is connected to Matt Gaetz, the congressman who President Donald Trump had nominated for attorney general but who dropped out under a cloud of criminal accusations.
The crypto industry’s Fairshake political action committee is flooding Republican candidates with last-minute money in special congressional elections in Florida.
Two U.S. House of Representatives seats had been opened by resignations when their occupants were tapped for posts in President Donald Trump’s administration, including that of Matt Gaetz, the politician Trump sought for the attorney general job who was tied to accusations of sex with a minor and drug abuse. The open seats are pivotal for Republicans' control of their tight margin in their House majority, so Democrats have devoted tremendous money and attention to them.
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An affiliate of the Fairshake super PAC, which is set up to devote money to candidate advertising independent of campaigns' involvement, had already weighed in during the primary there to tap crypto-friendly candidates. Now it's spending another $1.2 million to support state Senator Randy Fine, who is seeking the seat vacated by Trump's national security advisor, Michael Waltz, according to PAC spokesman Josh Vlasto. And it's putting about $345,000 toward the state's chief financial officer, Jimmy Patronis, to fill Gaetz' seat.
Both Republican candidates in the April 1 special election check Fairshake's primary box: They support digital assets. Early voting is set to begin this weekend, and Democrats have also devoted money. However, the seats have leaned significantly Republican in recent voting.
Overall, the House is short four members, because two Democrat members from Texas and Arizona died this month. If Democrats managed to win all four seats, Republicans would be left with a single-vote majority.
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需要了解的:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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U.S. Senate's Crypto Market Structure Bill Gets Messy as Calendar Weighs Down
The White House has shut down proposals, and lawmakers are circulating the Democrats' asks in what had been a close negotiation, revealing 11th-hour pressure.
需要了解的:
- Democrats shared a response to Republicans outlining their continuing priorities for a crypto market structure bill, which they said was intended to "reach an agreement and proceed towards a mark-up."
- The document laid out concerns with financial stability, market integrity and public officials' ability to trade and profit off of crypto, echoing concerns laid out in a framework Democrats shared in September.
- The Senate is running out of time in the Congressional calendar to hold a markup hearing — a key step toward progressing the bill — before 2025 ends.
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