Fairshake Political Action Committee, Crypto’s $193 million campaign finance force, is heading into the congressional midterm season with a massive $5 million infusion into the Republican primary campaign of Barry Moore, a U.S. congressman currently running for Senate.
One of Fairshake’s affiliates, Defend American Jobs, is pledging to spend the money to support Moore, even though the general election remains nearly nine months away. It’s one of the group’s first major forays into what promises to be a high-stakes, high-spending election season. “We are proud to stand alongside Barry Moore, a leader who will fight for economic growth and make America the crypto capital,” Fairshake said in a statement released Tuesday.
Fairshake also recently dedicated funds to Rep. French Hill, chairman of the House Financial Services Committee who has led the charge on crypto legislation in the United States, according to a PAC representative. Hill and his allies already managed to pass a crypto market structure bill in the House of Representatives last year and are now awaiting an equivalent effort in the US Senate.
Such crypto legislation is the central goal of Fairshake’s donations: promoting pro-crypto candidates willing to pass favorable bills and opposing those who oppose such legislation.
As with all super PAC donations, the money going to Moore will come from “independent expenditures” under federal election law, meaning the money can buy ads for the candidate, but cannot directly run the campaign. Fairshake-backed ads during the 2024 election did not mention crypto at all, and this ad aired for Moore intends to feature President Donald Trump’s endorsement of the candidate.
Moore served five years in the House and is now campaigning to replace Sen. Tommy Tuberville, a Republican who is aiming for 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 the social media site X. “It’s part of our future. It’s part of Alabama’s future.”
Moore is one of five Republican candidates to have announced their participation in this primary. So far, early polls have Moore generally in second place behind state Attorney General Steve Marshall. Both have “A” crypto grades from Stand With Crypto, a group that examines political figures’ views on digital assets.
Read more: Industry PAC continues to look to add allies as Congress crafts crypto legislation
