At the time of their most recent filings with the Federal Election Commission, the collection of related PACs had about $164 million on hand at the end of April, although they were spending at a rapid pace.
Tuesday’s result, with Moore taking nearly 56% of the vote, will likely offset the industry’s setback in Illinois, where Fairshake spent more than $10 million trying to defeat Lt. Gov. Juliana Stratton, who later claimed victory in the Democratic primary, virtually guaranteeing that the next Senate would have a member against whom crypto interests would spend big. However, most of Fairshake’s results have been successful, and the latest victory 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 cryptocurrency-linked Fellowship PAC, hopes to swap his seat in the U.S. House of Representatives with the Senate seat held by Republican Sen. Tommy Tuberville, who is running for governor.
Fairshake also dedicated $735,000 to U.S. Rep. Kevin Hern in this week’s Oklahoma Republican primary, where he won his party’s Senate nomination. Like Moore, Hern also received the endorsement of President Trump.
Fairshake is primarily backed by three contributors from the crypto world: Coinbase, a16z Crypto, and Ripple. The PAC made a name for itself in the previous Congressional campaign cycle, when it supported more than 50 pro-crypto candidates (from both major parties) running in this Congressional session, outperforming several industry-leading PACs and even some of the largest partisan organizations.
