Fairshake, a political action committee backed by the cryptocurrency industry, reported spending $1,025,785.12 on Oct. 2 and Oct. 6 to support the re-election of U.S. Rep. Bryan Steil, according to filings with the Federal Election Commission.
Steil, a Republican from Janesville, faces Democrat Mitchell Berman in the Nov. 3 midterm election. His 1st Congressional District covers Racine County and much of southeast Wisconsin.
Steil's campaign committees have also taken donations from executives at crypto and blockchain companies including Gemini, Coinbase and Solana Labs. Asked about the Fairshake spending, Steil's campaign did not address it directly and instead pointed to outside groups spending in support of Berman. Berman's campaign, in turn, called an ad about its candidate a false attack.
Fairshake has backed Steil before. In October 2024 the group spent more than $764,000 on media supporting him. Steil has said he has no control over such spending, cannot request it or coordinate with it, and follows all federal laws that apply to it.
Steil serves on the House Financial Services Committee and has been one of Congress's leading supporters of crypto legislation. He helped the GENIUS Act, which set a regulatory framework for stablecoins, pass the House before it was signed into law in 2025, and he supported the Clarity Act, which passed the House but not the Senate. Democratic Rep. Mark Pocan has criticized the industry's spending on Steil's behalf, arguing it undercuts public trust when a lawmaker helps oversee the industry backing him.
