The Republican Party is unhappy with Fairshake's "wait-and-see approach" in the midterm elections, and is asking the cryptocurrency industry to contribute funds.

BlockBeats News, May 17th: According to Axios, the US Republicans are dissatisfied with the cryptocurrency industry's largest political funding organization Fairshake for its "wait-and-see attitude" in the midterm elections. Despite the Republicans recently pushing for pro-crypto legislation such as the CLARITY Act, Fairshake, which has a reserve of about $165 million, has not yet disclosed its key endorsements or oppositions for the elections.

The report states that most of Fairshake's funding comes from cryptocurrency companies like Coinbase. Republicans are particularly concerned about its undecided stance on whether to again oppose Ohio Democratic Senator Sherrod Brown. In 2024, Fairshake invested over $40 million to help defeat Brown, who was then the chairman of the Senate Banking Committee and a long-time critic of the crypto industry. In addition, there is internal Republican discontent over Fairshake's shifting stance towards Democratic Congressman Chris Pappas. Stand With Crypto, supported by Coinbase, raised Pappas' crypto rating from 'F' to 'A' within 8 months.

Some Republicans believe that the cryptocurrency industry may currently be hedging risks for the Democratic Party's future return to power or may not want to offend the Democrats while pushing for crypto legislation. Senate Minority Leader Chuck Schumer's attitude towards the crypto industry has recently softened. However, supporters of Fairshake emphasize that the organization itself is a bipartisan PAC, whose goal is not merely to support the Republicans but to endorse crypto-friendly candidates and counter industry critics.