Crypto’s $193 million campaign finance force, Fairshake’s 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 U.S. congressman now running for the Senate.
One of Fairshake’s affiliates, Defend American Jobs, is pledging that spending to support Moore, even though the general election is nearly nine months away. This marks one of the group’s first major forays into what promises to be a high-stakes, high-spending election season. “We are proud to support Barry Moore, a leader who will fight for economic growth and make America the crypto capital,” Fairshake said in a statement on Tuesday.
Fairshake had also recently dedicated funds to Representative French Hill, the chairman of the House Financial Services Committee who has led the fight against crypto legislation in the US, according to a PAC representative. Hill and his allies already managed to get a crypto market structure bill passed by the House of Representatives last year and are now awaiting an equivalent effort in the US Senate.
This cryptocurrency legislation is the central purpose of Fairshake donations: to promote pro-cryptocurrency candidates willing to pass friendly bills and oppose those who oppose such legislation.
As with all super PAC donations, the money for Moore will be raised through “independent expenditures” under federal election law, meaning the cash can buy ads for the candidate but cannot deal directly with the campaign. Advertisements endorsed by Fairshake in the 2024 election did not mention cryptocurrencies at all, and this TV ad by Moore aims to feature President Donald Trump’s endorsement of the candidate.
Moore has served five years in the House and is now campaigning to replace Sen. Tommy Tuberville, a Republican running for the governor’s mansion this year. Until now, the Alabama congressman has served on the House Agriculture Committee, where cryptocurrency legislation was on the agenda last year.
“Cryptocurrency is not a fad,” Moore wrote in a December post on social media site 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 that primary. So far, early polls have overall placed Moore second behind state Attorney General Steve Marshall. Both have “A” crypto ratings from Stand With Crypto, a group that reviews political figures’ opinions on digital assets.
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