Huizenga Loses House Seat Despite $1 Million From Crypto PAC Fairshake

Rep. Bill Huizenga lost his reelection bid in Michigan's 4th Congressional District to Democrat Sean McCann on Wednesday, despite receiving about $1 million in support from the crypto super PAC Fairshake. With 97% of votes counted, McCann led 50.1% to 48.3%. The race had been rated "lean Republican" heading into Tuesday.

Huizenga was the No. 2 Republican on the House Financial Services Committee and its vice chair. He is the highest-ranking Republican on the panel to lose. Fairshake reported spending $1,019,166 to support him in the general election, according to Federal Election Commission filings.

Several other crypto-friendly House Republicans also lost. Rep. Bryan Steil of Wisconsin, who chairs the Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence, lost to Democrat Mitchell Berman 52% to 48%. Rep. Ann Wagner of Missouri, who chairs the capital markets subcommittee, lost to Democrat Fred Wellman. Rep. Zach Nunn of Iowa lost to state Sen. Sarah Trone Garriott. Rep. Mike Lawler of New York conceded to Democrat Cait Conley.

Fairshake committed at least $1 million in October to six House incumbents, including Huizenga, Steil and committee Chairman French Hill of Arkansas. All 32 House incumbents the Fairshake network backed this fall voted for the CLARITY Act when it passed the House 294-134 in July 2025, according to CNBC.

Outside spending in the Huizenga race exceeded $25 million, with House Majority PAC alone spending about $6 million against the Republican. Democrats won control of the House, which means the Financial Services Committee gavel passes to their side. Rep. Maxine Waters of California, the panel's chair from 2019 to 2023, is in line to return to the post.

Steil's loss leaves the digital assets subcommittee without its chair. Journalist Eleanor Terrett noted that the subcommittee's name, scope and membership are set each Congress, so Democrats could rename, re-scope or eliminate it. House Democrats are already weighing their own market structure bill with a bigger role for the SEC. The industry's main legislative goal remains the CLARITY Act, which failed a Senate cloture vote 49-50 on Sept. 15.