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
Iran says the U.S. has agreed to unfreeze about $6 billion in assets, but the U.S. side quickly denies it
An Iranian official source says the U.S. has agreed to unfreeze Iranian assets stored in places such as Qatar, as a gesture of good faith in negotiations, and also notes that the funds involve security in the Strait of Hormuz. However, the U.S. side denies this claim and reiterates that the funds remain restricted and can only be used for humanitarian purposes.
GateNews33m ago
XRP CLARITY Act Vote in Focus as XRP Holds $1.34 and Senate Returns April 13
XRP is trading at $1.34 as traders await the Senate's action on the XRP CLARITY Act, with potential for significant ETF inflows. The Banking Committee's markup is expected in late April, crucial for defining XRP’s regulatory status.
Cryptonews6h ago
Iran’s president: The delegation will head to Pakistan for negotiations, working tirelessly to safeguard the country’s interests.
Gate News message, on April 11, local time on the 11th, Iranian President Pezeshkian posted on social media that the Iranian high-level delegation traveling to Pakistan will do everything to protect the country's interests and will conduct negotiations with a brave attitude. Pezeshkian emphasized that regardless of the outcome of the negotiations, the Iranian government’s work to serve the people will not stop for a moment, and the Iranian government has always stood with the people.
GateNews6h ago
Bitmine Chairman Tom Lee: The market may have already bottomed out; I recommend focusing on the leading assets since the outbreak of hostilities
Bitmine chairman Tom Lee said on the X platform that although there are still doubts in the market, there are signs that the bottom has already formed. He is bullish on Ethereum and related assets and believes crypto is a wartime value-preservation tool. Risk assets may rebound, but it’s important to watch whether the macroeconomic environment and geopolitical situation remain stable.
GateNews7h ago
Trump: If progress in U.S.-Iran talks is not smooth, the U.S. is ready to "restart"
Gate News message: On April 11, U.S. President Donald Trump said in an interview on April 11 local time that he currently does not know the progress of the negotiations between the United States and Iran that day. When asked whether the U.S.-Iran negotiations have officially started, Trump confirmed and said, "Yes." Regarding whether Iran is conducting sincere talks, he said he would provide an answer within a very short time and it would not take long. When asked whether he was optimistic about this, Trump responded that if things do not go smoothly, the United States is ready to "restart." (CCTV News)
GateNews8h ago
The Israel Defense Forces said it carried out attacks on more than 200 Hezbollah targets within Lebanon over the past 24 hours.
The Israel Defense Forces conducted airstrikes in Lebanon, targeting more than 200 locations within the past 24 hours, all of which were associated with the Hezbollah organization. The military continues to strike infrastructure linked to Hezbollah and supports ground forces’ operations to prevent artillery fire attacks on Israel.
GateNews8h ago
