Crypto PAC Fairshake Invests $5 Million in Alabama Senate Race

TLDR

• Crypto PAC Fairshake is investing $5 million in Representative Barry Moore’s Senate campaign in Alabama.
• Fairshake’s financial backing highlights their support for candidates promoting pro-crypto legislation.
• The PAC’s contribution is part of its broader strategy to influence the 2024 midterm elections with a focus on crypto policy.
• Moore’s campaign receives Fairshake’s funding through independent expenditures, including ads featuring Trump’s endorsement.
• Fairshake previously supported Representative French Hill’s efforts on crypto market structure legislation in the U.S. House.

Crypto PAC Fairshake is diving into the 2024 election season with a $5 million investment in Alabama’s Senate race. The political action committee is backing Representative Barry Moore, a Republican seeking to replace Senator Tommy Tuberville. This substantial funding marks Fairshake‘s entrance into one of the high-stakes contests of the upcoming midterms.

Fairshake’s $5 Million Commitment to Barry Moore’s Campaign

Fairshake, a major political force with a $193 million budget, is backing Barry Moore in his Senate bid. The PAC’s affiliate, Defend American Jobs, is channeling the $5 million towards Moore’s Republican primary campaign. While the general election is still several months away, Fairshake is focused on securing early momentum for Moore’s run.

Moore has served as a congressman for five years and sits on the Agriculture Committee, where crypto-related legislation was discussed. He is now seeking to replace Tuberville, who is running for governor. Fairshake’s financial backing highlights the PAC’s strategy of supporting pro-crypto candidates in the midterm season.

Crypto PAC Fairshake Focuses on Pro-Crypto Legislation

Fairshake’s primary goal is to promote candidates who support pro-crypto legislation. The PAC’s financial strategy includes funding candidates like Moore, who have a favorable stance on cryptocurrency. The PAC’s efforts align with their support for lawmakers like Representative French Hill, who spearheaded crypto legislation in the U.S. House.

The PAC’s spending on Moore marks its first major involvement in a Senate race. It mirrors earlier support for Hill, who successfully passed a crypto market structure bill in the House last year. As the Senate moves closer to debating similar legislation, Fairshake aims to have a strong influence on the outcome.

Independent Spending on Moore’s Campaign

Fairshake’s involvement in Moore’s campaign comes through independent expenditures. Federal election law allows the PAC to run ads in support of Moore, without direct interaction with his campaign team. The ads will feature Moore’s endorsement from former President Donald Trump, a key figure in the Republican Party.

Moore’s pro-crypto stance aligns with Fairshake’s broader mission to elect candidates committed to the digital assets industry. His strong crypto ratings from Stand With Crypto reflect his alignment with Fairshake’s values.

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