
Crypto-supportive Rep. Barry Moore clinched a win in the Republican primaries in Alabama for an open Senate seat after being bolstered by millions of dollars from the digital asset industry.
On Tuesday night, President Donald Trump-endorsed Moore won against his opponent, Jared Hudson, in an open Senate seat being vacated by Sen. Tommy Tuberville as he runs for governor in the state.
"Yesterday, conservatives all across the Yellowhammer State put their trust in me to be the @ALGOP nominee for U.S. Senate in November," Moore said in a post on X. "I’m deeply humbled by and so grateful for all of the support we’ve received throughout our state, and I look forward to bringing this race home on November 3."
Cryptocurrency-focused political action committee Fairshake, backed by heavyweights like Coinbase and Andreessen Horowitz (a16z), has not been messing around when it comes to raising money for candidates this election cycle, following its aggressive influence over elections in 2024. At the beginning of the year, the PAC said it amassed $193 million ahead of the November midterms.
On Tuesday, Fairshake spokesperson Geoff Vetter said that Moore's primary was its "biggest spend of the cycle."
“Our biggest spend of the cycle yielded yet another pro-innovation champion in the Senate, and with nearly $150 million cash on hand we are ready to continue driving the construction of the largest pro-crypto caucus in history," Vetter said in a statement.
According to Federal Election Commission filings, entities affiliated with Fairshake spent over $10 million in areas such as advertising.
Notably, Fairshake backed pro-crypto Democratic Rep. Christian Menefee unseated longstanding Rep. Al Green in the Democratic primary runoff in Texas in May.
Not every race has gone in their favor.
In March, Fairshake reportedly spent millions in a Democratic primary against Illinois Lt. Gov. Juliana Stratton, who is viewed as not friendly toward crypto. Stratton won against pro-crypto Rep. Raja Krishnamoorthi.
In Alabama, Moore has taken part in several crypto-related bills, including introducing a bill to clarify when an entity is a money-transmitting business under federal law in an effort to protect software developers, voting yes on both a stablecoin bill that passed into law last year and another that would regulate the industry overall, and cosponsored a bill to ban a central bank digital currency.
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