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The Biggest Crypto Bluff Ever Made By Marin Katusa |
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Corporate money in politics isn’t new.
But in the runup to the 2024 election, it came from a surprising source.
No, it’s not Michael Saylor, the man who turned MicroStrategy into a Bitcoin juggernaut. With over 386,700 BTC under its belt, his company isn’t just a tech firm anymore—it’s practically a Bitcoin bank.
Saylor may have put Bitcoin on corporate boardroom agendas,
But the real story of 2024 is how the cryptocurrency industry used its power to rewrite the political influence playbook…
This relatively new sector managed to outspend titans of lobbying like oil and gas, Wall Street, the Koch brothers, and even George Soros.
In fact, crypto PACs raised a jaw-dropping $248 million—nearly half of all corporate donations aimed at shaping federal elections.
And a single, little-known PAC called Fairshake raised 80% of that total.
All of that money was to be spent on a single purpose: electing pro-crypto officials.
So Fairshake and the other PACs developed a brilliant strategy for promoting crypto-friendly candidates.
Fairshake’s winning strategy had three key elements: - Candidate grading: Evaluated every candidate’s stance on crypto.
- Targeted ad spending: Backed the pro-crypto candidate with aggressive ad campaigns, often without mentioning crypto directly.
- Bipartisan approach: Endorsed equal numbers of Democrats and Republicans, focusing solely on crypto policy.
The only thing that mattered was a favorable attitude toward crypto.
And that’s how Fairshake decided to make an extremely risky, extremely calculated move: taking down the biggest obstacle to crypto going mainstream. |
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Fairshake Shakes Down Mr. Brown
That obstacle was the chairman of the powerful Senate Banking Committee, Sherrod Brown. Mr. Brown has been an influential voice on financial regulation since he was first elected sixteen years ago.
And he’s been a critic of crypto for nearly as long, constantly warning of the risks it poses for consumers and calling for more regulation of the industry. He also has the final say on whether pro-crypto legislation is considered in the Senate.
In December 2023, asked whether he was concerned about the crypto industry funding his opponent, Mr. Brown said: “I don’t care if they do. … I mean, bring ‘em on.”
Fairshake took him up on the challenge, spending more than $40 million to back Bernie Moreno, a cryptocurrency advocate and blockchain company founder, against Mr. Brown.
It was an insane bluff.
If they won, it could seal the future of crypto as a mainstream currency and send it soaring. If they lost—well, Mr. Brown could make things “really painful” for the industry for a very long time.
But here’s what happens to cavalier incumbents when they go up against the crypto industry: |
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Sherrod Brown, three-time Senator, lost decisively to a former car dealer who had never held elected office.
It wasn’t luck.
Fairshake Is the New Kingpin of Crypto
Because Fairshake did the same thing with Democratic Representative Katie Porter, spending $10 million to successfully ensure she lost the primary.
In fact, in 85% of the primary races with crypto-PAC intervention, the crypto-backed candidate won. The strategy has proven so effective that the incoming government will have about 60 percent pro-crypto members. |
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| Fairshake and the other pro-crypto PACs achieved something they might not have even bargained for. Just the fear of pro-crypto money is now enough to make politicians vote and speak favorably. “Attacking crypto means risking your seat.”
– former Coinbase CTO Balaji Srinivasan Soon after big crypto pledged to spend in his race, Montana Senator Jon Tester, who has been skeptical of crypto, voted in favor of pro-crypto legislation.
Fairshake’s efforts have finally created a Congress that is pro-crypto.
And with the Republicans taking the Senate, it means one thing…
“This will be the most crypto-friendly legislature ever.”
- Consumer Federation of America director Adam Rust Brace Yourself for the Crypto Super-Majority
Already, the idea of a Crypto Congress has upended the sentiment surrounding Bitcoin. It has shot up more than 40% since Election Day, repeatedly breaking to new record highs and coming within spitting distance of the $100,000 mark.
It’s all based on a brand-new sentiment for Bitcoin—that regulators will no longer restrain its price.
Marc Andreessen, a major Fairshake benefactor, said the election outcome felt like “a boot off the throat” for cryptocurrency.
What kind of progress will the Crypto Congress make?
An early indicator came in July 2024.
U.S. Senator Cynthia Lummis, appearing on stage with Donald Trump, introduced the Bitcoin Act, which would create a strategic Bitcoin reserve—starting with the 213,000 Bitcoins the U.S. government already owns.
A few other ideas have been floated for legislation, including: - Rolling back regulations that are burdensome for crypto exchanges.
- Exempting capital gains taxes on U.S.-issued cryptocurrencies.
- Shifting federal crypto oversight from the SEC to the Commodities Futures Trading Commission.
If Bitcoin begins to be considered a commodity, it will completely change how investors approach it. The sentiment will switch from seeing it as a risk-based speculation to a value-based commodity, and the price is likely to reflect that.
Fairshake’s influence shows no signs of slowing down.
With $78 million already raised for 2026, crypto PACs are poised to further solidify their grip on Congress.
As pro-crypto sentiment grows, the industry’s ability to shape policy—and markets—is virtually unmatched.
We’ll continue to track this unprecedented shift.
Regards,
Marin Katusa |
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