At the time of their most recent filings with the Federal Election Commission, the fundraising related PACs had about $164 million on hand at the end of April, though they were spending at a rapid clip.
Tuesday’s result — with Moore taking nearly 56% of the vote — is likely to offset industry backlash in Illinois, where Fairshake spent more than $10 million trying to defeat Lt. Gov. Juliana Stratton, who went on to claim victory in the Democratic primary, all but guaranteeing the next Senate would have a member who spent heavily on crypto interests. Most of Fairshake’s results have been successful, however, and the latest win joins what is shaping up to be a full slate of successful primary candidates backed by the super PAC.
Moore, who was also backed by the crypto-linked Fellowship PAC, is hoping to trade his US House seat for the Senate position held by Republican Sen. Tommy Tuberville, who made a bid for governor.
Fairshake also committed $735,000 to U.S. Rep. Kevin Hern in this week’s Republican primary in Oklahoma, where he won his party’s Senate nomination. Like Moore, Hern was also endorsed by President Trump.
Fairshake is mostly supported by three crypto world contributors: Coinbase, a16z Crypto and Ripple. The PAC made a name for itself in the previous congressional campaign cycle, endorsing more than 50 pro-crypto candidates (from both major parties) running this session of Congress, surpassing a number of leading industry PACs and even some of the largest party organizations.
