Crypto’s $193 million campaign finance arm, Fairshake Political Action Committee, is launching into the congressional midterm season with a massive $5 million injection into the Republican primary campaign of Barry Moore, a US congressman now running for the Senate.
One of Fairshake’s affiliates, Defend American Jobs, is committing to this spending to support Moore, even though the general election is still nearly nine months away. It marks one of the group’s first major forays into what promises to be a high-money, high-spending election season.”We are proud to stand with Barry Moore, a leader who will champion economic growth and make America the crypto capital,” Fairshake said in a statement Tuesday.
Fairshake had also recently committed funds to Representative French Hill, the chairman of the House Financial Services Committee, who has been leading the charge on crypto legislation in the US, according to a representative of the PAC. Hill and his allies already managed to get a crypto market structure bill through the House of Representatives last year and are now awaiting a matching effort in the US Senate.
Such crypto legislation is the central purpose of Fairshakes giver – to promote pro-crypto candidates ready to pass friendly bills and oppose those who oppose such legislation.
As with all super PACs’ giving, the money for Moore will come through “independent expenditures” under federal election law, meaning the cash can buy ads for the candidate but cannot directly manage the campaign. Fairshake-backed ads in the 2024 election didn’t mention crypto at all, and this broadcast ad for Moore purports to show the candidate’s endorsement of President Donald Trump.
Moore has served five years in the House and is now campaigning to replace Sen. Tommy Tuberville, a Republican who is targeting the governor’s mansion this year. The Alabama congressman has so far served on the House Agriculture Committee, where crypto legislation was on the agenda last year.
“Crypto is not a fad,” Moore wrote in a December post on social media X. “It’s part of our future. It’s part of Alabama’s future.”
Moore is one of five Republican candidates who announced their participation in the primary. Early polling so far has Moore in second place overall behind Attorney General Steve Marshall. Both have “A” crypto ratings from Stand With Crypto, a group that reviews political figures’ views on digital assets.
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