On February 11, Bloomberg reported that the affiliated organization of the cryptocurrency Super PAC Fairshake, Defend American Jobs, plans to spend approximately $5 million to support pro-cryptocurrency candidate Barri Moore in his bid for the U.S. Senate. The five-week campaign will run political ads on television and cable media, with former President Trump publicly endorsing Moore, quickly making this race a key indicator of U.S. crypto policy battles.
Super PACs can raise funds from corporations and associations but cannot donate directly to candidates. Instead, they influence voters through independent advertising and media campaigns. Fairshake stated that Moore is committed to economic growth and supports making the U.S. a “global crypto innovation hub,” which is why industry forces are rallying behind him.
Fairshake is considered one of the most influential crypto political organizations in the U.S., backed by major crypto companies including Ripple Labs. During the 2024 election cycle alone, the organization has invested about $130 million to support candidates advocating for digital asset legislation, ultimately helping to elect more “pro-crypto” officials to Congress.
Moore has served in the U.S. House of Representatives since 2020. He has participated in discussions on the Digital Asset Market Transparency Act and has publicly expressed support for the crypto industry multiple times. In December last year, he posted on social media that cryptocurrencies are not just a short-term trend but part of the future of the U.S. and Alabama. The advocacy group Stand With Crypto also rated Moore as a “strong supporter” of cryptocurrencies.
Polls show that Moore has approximately 17% support in the Republican primary, slightly behind his opponent Steve Marshall. As crypto industry funding and political resources continue to flow in, this Senate race could become a pivotal moment for the future of crypto regulation in the U.S.
The U.S. midterm primaries are scheduled for May, with the general election in November. Fairshake disclosed in January that it has raised about $193 million for this election cycle. As the ties between politics and the crypto industry grow closer, related legislative directions are increasingly becoming a focus of global market attention.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Optimism over the Iran-U.S. ceasefire helped drive a broad rebound in U.S. stocks, and Bitcoin rose to a three-week high.
The United States and Iran reached a two-week ceasefire agreement, and global financial markets turned optimistic, with the S&P 500 rising 2.51%. U.S. crude oil prices fell to below $95 per barrel, easing concerns about an energy crisis. Bitcoin at one point rose 5% to $72,841, hitting a three-week high. Expectations that the Federal Reserve will cut interest rates have also increased.
ChainNewsAbmedia2m ago
U.S. lawmakers call on the SEC to investigate unusual market trades ahead of a planned Trump delay of a military strike on Iran
U.S. Representative Richie Torres calls on the Securities and Exchange Commission to investigate allegedly abnormal trading activity in the markets before Donald Trump delayed a military strike, saying the trading activity looks suspicious and that a formal investigation of the relevant trading records is needed.
GateNews12m ago
Iran designates a safe navigation lane in the Strait of Hormuz, requiring ships to coordinate passage with the Revolutionary Guard
Gate News message. On April 8, according to Iran’s SNN news agency, the Iranian Ports and Maritime Organization said on April 9 that it has designated safe transit lanes through the Strait of Hormuz, and that ships must use these lanes in coordination with Iran’s Islamic Revolutionary Guard Corps. The organization noted that safe entry into the lanes is航located for vessels navigating from the Oman Sea toward the north side of Larak Island, while the safe lanes departing from the Gulf require entering the Oman Sea via the south side of Larak Island.
GateNews1h ago
Iranian Parliament Speaker: Three Key Terms Before the Peace Talks Begin Have Been Violated
The Speaker of Iran’s parliament announced that the key provisions in the proposal at 10 o’clock had already been violated before negotiations, including the failure to honor a ceasefire commitment, the destruction of drones that violated airspace, and the denial of Iran’s right to enrich uranium. He said that it is unreasonable to hold negotiations in such circumstances.
GateNews2h ago
Global Markets Shift as Oil Jumps and Bitcoin Holds Ground
Global markets moved unevenly as geopolitical tensions intensified and energy prices climbed sharply. Oil prices surged above key levels while Bitcoin maintained stability despite pressure. Meanwhile, equities fluctuated as traders reacted to escalating rhetoric and uncertain diplomatic outcomes.
O
CryptoBreaking2h ago
The White House: Iran’s proposed new plan could serve as the basis for U.S.-Iran nuclear talks, and Trump’s uranium enrichment red line remains unchanged
White House press secretary Leavitt said that Iran’s initial package of 10 proposals has been abandoned, but that the new proposal could serve as the basis for U.S.-Iran negotiations. Trump emphasized that stopping uranium enrichment activities is a red line and rejected a “wish list” style agreement.
GateNews5h ago
