Grafa
Crypto PAC spends $12M on Alabama race
Image for illustrative purposes only. Not a real photo.

Crypto PAC spends $12M on Alabama race

Share
  • Crypto-backed PAC Defend American Jobs has spent more than US$12 million supporting Republican Barry Moore in Alabama's Senate primary contests.
  • The spending highlights the growing political influence of cryptocurrency industry groups in US elections.
  • Fairshake-affiliated organisations continue deploying funds to support candidates viewed as favourable to crypto policy.

Defend American Jobs, a cryptocurrency industry-backed political action committee affiliated with Fairshake, reported spending more than US$12.1 million to support Republican Barry Moore in Alabama's US Senate primary and runoff contests.

The latest filing showed more than US$4.7 million in media spending ahead of Tuesday's runoff, adding to the US$7.4 million the PAC reported spending before Alabama's May 20 primary election.

“Big Crypto did not back his candidacy,” said Republican Senate candidate Jared Hudson.

Moore, who has also received an endorsement from US President Donald Trump, is competing against Hudson to replace retiring Senator Tommy Tuberville, while crypto advocacy group Stand With Crypto rates Moore as strongly supportive of cryptocurrency policies.

Fairshake and affiliated organisations have continued expanding their election spending efforts across multiple states, with planned media campaigns worth approximately US$5 million in Maryland and US$500,000 in New York later this month.

The Blockchain Leadership Fund, backed by Anchorage Digital and Chainlink, announced support for Moore in May, while Fellowship PAC disclosed US$350,000 in spending supporting his Senate campaign.

Fairshake reported holding US$193 million in available funds as of January and has said it intends to support candidates viewed as favourable to cryptocurrency policies while opposing candidates it considers hostile to the industry.

Frequently asked questions

Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relate to your unique circumstances.

Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of or reliance on the information provided directly or indirectly, by use of this platform.