As of their latest filings with the Federal Election Commission, the affected PACs had about $164 million in collections at the end of April, although they were spending at a rapid pace.
Tuesday’s result — with Moore winning nearly 56% of the vote — will likely counter the industry’s setback 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, virtually guaranteeing that the next Senate would have a member that crypto interests spent big money against. 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 crypto-linked Fellowship PAC, hopes to swap his seat in the U.S. House of Representatives with the Senate post held by Republican Sen. Tommy Tuberville, who has made a bid for governor.
Fairshake also dedicated $735,000 to U.S. Rep. Kevin Hern in Oklahoma’s Republican primary this week, where he won his party’s Senate nomination. Like Moore, Hern has also been endorsed by President Trump.
Fairshake is mainly supported by three contributors from the crypto world: Coinbase, a16z Crypto and Ripple. The PAC made a name for itself during the previous congressional campaign cycle, when it supported more than 50 pro-crypto candidates (from both major parties) who participated in this session of Congress, beating out a number of prominent industry PACs and even some of the largest party organizations.
