Fairshake has entered the final stage of the 2026 U.S. election cycle with $122 million available after supporting nearly 50 winning candidates during the primaries.

Fairshake adds nearly 50 primary wins

According to reports on Wednesday, Fairshake supported nearly 50 successful primary candidates as the crypto industry-backed super PAC prepared to direct its remaining funds toward the November elections.

Among its latest wins, Democratic Representative Jake Auchincloss secured his party’s nomination in Massachusetts after receiving support from Protect Progress, Fairshake’s Democratic-focused affiliate. Protect Progress spent $189,527.60 on four mailers supporting the incumbent, according to Federal Election Commission disclosures cited in a recent crypto.news report on the Auchincloss primary win.

Although Auchincloss has voted for several pieces of crypto legislation, his record has not aligned with the industry on every issue. Stand With Crypto, the Coinbase-backed advocacy group, gives him a C grade, partly because he did not support the GENIUS Act stablecoin legislation last year.

His opponent, Jason Poulos, criticized the outside spending and alleged that some of the material used artificial intelligence. The FEC filing and materials released by Poulos did not show that Auchincloss or his campaign helped prepare the advertisements, while federal rules require super PAC expenditures to remain independent of the candidates they support.

Fairshake and its affiliates have also spent money defending seven members of Congress who have regularly supported digital asset legislation. At the same time, the network backed first-time candidates from both parties who could enter Congress next year.

In August, Fairshake affiliates added several Michigan and Washington victories after spending hundreds of thousands of dollars across the two states. Republican Representative Bill Huizenga received nearly $512,000 in support from Defend American Jobs, Fairshake’s Republican-focused affiliate, while Protect Progress backed Democratic Representatives Suzan DelBene, Kim Schrier and Marilyn Strickland.

Republican Senate candidates lead election odds

Fairshake’s most notable results have come from Republican Senate primaries, where it helped Barry Moore in Alabama, Andy Barr in Kentucky, Kevin Hern in Oklahoma, and Harriet Hageman in Wyoming secure their party nominations.

Hageman is running for the seat held by retiring Senator Cynthia Lummis, one of Congress’ most active supporters of cryptocurrency legislation. The Wyoming lawmaker has worked on digital asset tax, market structure, and Bitcoin-related proposals during her time in the Senate.

Prediction traders expect all four Fairshake-backed candidates to win in November. Polymarket contracts gave Moore a 99% probability of victory, Hern 97%, and Hageman 96% at the time of the report. A Kalshi market placed Barr’s odds near 94%.

Prediction-market prices represent traders’ expectations rather than guaranteed outcomes, and the figures can change as election conditions develop.

If elected, the four Republicans would arrive in the Senate while lawmakers are still working on the Digital Asset Market Clarity Act. The proposed legislation would divide oversight of parts of the U.S. digital asset market between the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Control of Congress will also determine which lawmakers lead the House Financial Services, House Agriculture, Senate Banking, and Senate Agriculture committees. Each panel has jurisdiction over parts of U.S. crypto policy, including securities rules, commodities regulation, stablecoins, and market structure.

Fairshake spokesperson Geoff Vetter said the organization would continue its election activity after its primary results.

“With dozens of wins in House and Senate races across the country, and $122 million ready for the fall, we’re not slowing down.”

Most party nominees have already been selected, although primary contests remain in New Hampshire, Rhode Island, Delaware and Louisiana. The general election is scheduled for Nov. 3.

Illinois delivers Fairshake’s largest defeat

Despite its victories elsewhere, Fairshake failed to stop Illinois Lieutenant Governor Juliana Stratton from winning the Democratic nomination for the U.S. Senate.

The super PAC spent more than $10 million trying to defeat Stratton, making the Illinois contest its largest unsuccessful expenditure of the current election cycle. Stratton defeated a field that included Representatives Raja Krishnamoorthi and Robin Kelly in the race to succeed retiring Senator Dick Durbin.

Fairshake’s advertisements did not prevent Stratton from securing the nomination, and prediction models cited by the report expect her to enter the Senate next year. Illinois has consistently elected Democrats in statewide federal races, giving the party’s nominee an advantage over Republican nominee Don Tracy.

The result showed that high outside spending did not decide every primary. Consumer advocacy group Public Citizen previously calculated that crypto companies had contributed a record $189 million to the 2026 election cycle by the end of June, accounting for about 37% of corporate political contributions included in its analysis.

Public Citizen said Fairshake had spent more than $82 million during the cycle by that point. The organization’s network entered 2026 with approximately $193 million in cash, though the current $122 million figure represents funds available for the final election phase.

Coinbase, Ripple and Andreessen Horowitz remain the main financial supporters of Fairshake and its affiliated committees. The network divides much of its political work between Protect Progress, which supports Democrats, and Defend American Jobs, which concentrates on Republicans.

Rival crypto PACs trail Fairshake’s spending

Other digital asset-linked political groups have raised money during the election cycle but have not matched Fairshake’s activity.

Fellowship PAC, backed by Cantor Fitzgerald and Anchorage Digital, had previously indicated that it could spend $100 million. The committee received about $11 million, with most of the money coming from Cantor Fitzgerald.

The PAC supported a group made up mainly of Republicans and three Democrats, including Virginia Senator Mark Warner. Almost all its spending went to a political firm co-founded by Bo Hines, a former crypto adviser to President Donald Trump who later took charge of Tether’s U.S. operation.

Fellowship’s early connection to Tether created a campaign-finance issue because U.S. political committees cannot accept foreign funds. Rather than receiving money from the stablecoin issuer, the PAC obtained backing from Cantor Fitzgerald, the U.S. financial firm that manages part of Tether’s reserves. It remains unclear whether Fellowship will spend again during the general election.

Tyler and Cameron Winklevoss have separately backed the Digital Freedom Fund through a $21 million contribution from Winklevoss Capital. Kraken parent Payward added another $1 million, but the committee had not started supporting individual candidates at the time of the report.

Coinbase has launched crypto derivatives trading in Canada, giving eligible users access to perpetual and dated futures tied to Bitcoin (BTC), Ether (ETH), Solana (SOL) and other assets.

The products are offered through Coinbase Financial Markets, a futures commission merchant registered with the US Commodity Futures Trading Commission, which operates in Canada under foreign dealer and futures commission merchant exemptions.

Coinbase said Wednesday that the offering includes 23 crypto perpetual and dated futures, five commodity futures and the Coinbase 50 Index. The company said it is the first major crypto-native platform to offer direct native crypto futures in Canada.

Access is limited to eligible Canadian customers, including those with at least $5 million in net financial assets or registered investment advisers and dealers. The contracts use nano-sized positions and offer leverage of up to 10x.

Related: BlackRock launches 2 Canada ETFs, with one allocating 3% to Bitcoin

US trading platforms expand in Canada

The Coinbase launch comes as US trading platforms broaden their crypto offerings in Canada.

On Monday, US online brokerage Webull expanded crypto trading to Canadian customers using Coinbase’s infrastructure for trading and custody, adding digital assets alongside its existing stocks, ETFs and options offerings.

Webull cited rising adoption as one reason for the move, with crypto ownership in Canada climbing to 25% this year from 10% in 2023, according to Ontario Securities Commission research.

Robinhood entered the Canadian market in June through its $180 million acquisition of local crypto company WonderFi, gaining control of Canadian exchanges Bitbuy and Coinsquare. The deal also brought roughly 300,000 funded customers, along with WonderFi’s Canadian licenses and regulatory approvals, under Robinhood.

Robinhood entered Canada after completing its acquisition of WonderFi. Source: Vlad Tenev

The influx of trading platforms comes as Canada tightens oversight of other parts of the crypto market. In April, Ottawa proposed banning crypto ATMs over concerns about scams and money laundering, while lawmakers advanced legislation that would prohibit cryptocurrency donations to political parties and candidates.

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The US state of Wyoming is adding near-real-time onchain reserve verification to its state-issued Frontier Stable Token through an expanded integration with blockchain oracle network Chainlink.

The Wyoming Stable Token Commission said Wednesday it adopted Chainlink Proof of Reserve to publish verified data on FRNT’s reserves and token supply onchain. The system combines independent examinations by The Network Firm with Chainlink’s infrastructure to make the data available in near real time.

Wyoming already publishes daily reserve attestations for FRNT, while the GENIUS Act requires monthly disclosures of reserve composition and outstanding stablecoin supply. The commission said the integration will provide more timely visibility into changes in FRNT’s backing between reporting periods.

The commission is also working to adopt Chainlink’s Secure Mint feature, which would require verified reserves to equal or exceed FRNT’s total supply before new tokens can be minted.

FRNT, launched in January, is backed by US dollars and short-term US Treasurys, with interest income generated from its reserves deposited into Wyoming’s School Foundation Program.

The move comes about two weeks after Wyoming fully migrated FRNT from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol, making CCIP the token’s exclusive cross-chain infrastructure.

Related: Charles Schwab adda Solana, Avalanche and Chainlink to nascent crypto platform

Chainlink expands institutional footprint

Chainlink has picked up several integrations across tokenized equities, stablecoin settlement and traditional financial market infrastructure in recent months.

Most recently, Chainlink became the pricing-data provider for Coinbase’s B20 tokenized equities following their August launch on Base. The feeds cover stocks including Apple, Nvidia, Meta and Alphabet, allowing DeFi protocols to value the tokens for uses including lending, trading and collateral.

In June, Chainlink joined European and South Korean banking groups in Project Pangea, which is exploring the use of regulated euro- and won-denominated stablecoins for atomic foreign exchange settlement across the two regions.

Its push into traditional financial infrastructure has also included the Depository Trust and Clearing Corporation (DTCC), which said in May it would integrate Chainlink technology into a planned 24/7 platform for managing tokenized collateral. That month, Fidelity International also launched a tokenized liquidity fund using Chainlink and Sygnum infrastructure, with JPMorgan providing daily net asset value data for pricing.

Chainlink’s LINK token has gained more than 34% over the past month, trading at around $11.07 on Wednesday, according to CoinGecko data.

LINK has gained around 34% over the past month. Source: CoinGecko

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New Jersey’s Attorney General and the state’s interim director for the Division of Gaming Enforcement have officially petitioned the US Supreme Court to hear a case aimed at resolving whether state authorities or federal agencies have jurisdiction over prediction market companies.

On Wednesday, Attorney General Jennifer Davenport and gaming enforcement interim director Mary Jo Flaherty filed a petition for a writ of certiorari to the US Supreme Court over New Jersey’s enforcement against prediction market platform Kalshi over sporting event contracts. Officials cited civil cases brought by gaming authorities in “at least 20 states,” seeking the highest court in the US to decide whether prediction market companies could be in compliance with the Commodity Futures Trading Commission (CFTC) while violating state laws.

“Companies like Kalshi claim to offer legal sports betting in all 50 States, but they refuse to follow the gambling laws of any State,” said Davenport. “These companies have no right to offer their sports bets without following state law, which is why dozens of States across the ideological spectrum have opposed them […] We’re calling on the Supreme Court to resolve this issue and recognize that Congress did not silently make the sports-betting industry immune from state law.”

Source: New Jersey Attorney General

Citing New Jersey’s enforcement against Kalshi, the petition presented the Supreme Court with the question of “whether the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act preempted States from regulating sports bets that occur within their jurisdictions if those bets are offered on markets registered with the [CFTC].” Cointelegraph reached out to the CFTC for comment but did not receive an immediate response.

Related: Kalshi issues first lifetime ban for Republican politician over insider bets

The petition challenges an April opinion from the US Court of Appeals for the Third Circuit, in which judges ruled 2-1 against New Jersey’s gaming authorities, saying Kalshi’s argument that the company had a ”reasonable chance of success” in claiming that the CFTC’s Commodity Exchange Act preempted state law. It specifically challenges the CFTC’s claim that sports bets on prediction market platforms amount to “swaps” under the agency’s purview and argued “federal law does not preempt state sports-gambling laws regardless.”

What are the potential consequences for Kalshi and other prediction markets?

“Because federal law prohibits trading swaps off CFTC-registered markets, a victory for Kalshi would mean that all sports gambling off such CFTC-registered markets would seemingly become illegal even if state law allows it,” said the New Jersey AG’s announcement on the petition.

Kalshi spokesperson Dani Lever told Cointelegraph that the company disagreed with New Jersey’s decision to appeal to the Supreme Court, saying that it could not be “regulated by 50 different regulators.“

”We remain confident in the lower courts’ rulings, and nothing in New Jersey’s filing today changes our view,” said Lever.

Event contract on when the US Supreme Court will hear a prediction markets case. Source: Polymarket

Whether the Supreme Court justices will take up the issue of prediction markets is unclear. Many experts have been speculating that the justices could weigh in on a case that went to the appellate court in Nevada. Whether the court chooses the Kalshi case in Nevada, the one in New Jersey or an enforcement action against a different company down the road, any potential decision could decide which authorities can regulate prediction markets.

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Caterpillar CEO Joseph Creed disclosed his sale of $26.2 million worth of stock on Tuesday, after exercising an options package four and a half years early. 

He sold 32,401 shares on the New York Stock Exchange on August 28, emptying his oldest outstanding tranche of options that had a March 2031 expiration date.

The options had a $219.76 strike price — allowing Creed to exercise 72% below the current stock price that regular investors have to pay today.

Creed’s proceeds of $26.2 million had a weighted average of $808.98 per share, slightly below the filing’s $812.98 valuation for shares surrendered to cover his exercise price or tax liability.

He disposed of 12,002 shares under a filing code for paying an exercise price or tax liability. Their value almost exactly matched the grant’s $9.76 million exercise cost.

Even after the incredible payday, Creed’s August 28 sale only reduced his 2021-vintage options grant to zero. In addition, Caterpillar’s proxy filing lists another 110,651 option grants from years 2022-2025, including vested and unvested compensation. 

Moreover, he retained ownership of 34,555 shares of stock, plus another 11,839 shares in his 401(k) retirement account.