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
Federal Reserve FOMC Statement Changes in Three Areas: Unemployment Rate Wording Adjusted, New Addition of Middle East Situation Impact, Waller Shifts to Support Holding Rates Steady
Gate News reports that on March 18, the Federal Reserve FOMC released a statement on March 19, showing three changes compared to the January statement:
First, the unemployment rate description was adjusted, changing from "the unemployment rate has shown some signs of stabilization" to "the unemployment rate has changed little in recent months";
Second, new language regarding the Middle East situation was added, stating that "the impact of developments in the Middle East on the U.S. economy remains uncertain";
Third, Federal Reserve Governor Waller shifted his stance, having supported a 25 basis point rate cut at the last meeting, but now supporting unchanged interest rates.
GateNews5m ago
Most of Iran's regions have experienced a complete disconnection from international internet, with diplomatic institutional communications nearly interrupted.
Gate News reports that starting on the afternoon of March 18 local time, most regions of Iran, including the capital Tehran, entered a complete disconnection from the international internet. Communications between diplomatic institutions in Iran and those outside Iran have also been almost entirely cut off. It is understood that some networks within Iran remain available.
GateNews2h ago
Bitcoin Breaks Below $71,000, Ethereum Falls Below $2,200! Nearly $300 Million in Liquidations Across the Network in 4 Hours, Inflation, Conflict, and Political Deadlock "Triple Kill" Crypto Market
The crypto market experienced a sharp decline on the evening of the 18th, with Bitcoin falling below $71,000 and Ethereum dropping to $2,200. The causes include U.S. PPI data exceeding expectations, which reduced the likelihood of Federal Reserve rate cuts; escalating Middle East conflicts increasing geopolitical risks; and gridlock in the U.S. Congress over crypto regulations. Market sentiment was severely damaged, with 110,000 people liquidated in just 4 hours, resulting in losses of $300 million.
動區BlockTempo3h ago
Bitcoin hashrate declined 8% over the past week to 920 EH/s, with network difficulty expected to adjust down 8%
On March 18th, driven by Middle East conflict pushing oil prices higher, Bitcoin hashrate declined approximately 8% to 920 EH/s, with price falling below $72,000. Difficulty is expected to adjust down around 8%. Miners face profit pressure, with many enterprises beginning diversified layouts and increasing Bitcoin sales to maintain operations.
GateNews3h ago
US Officials: Trump Views Iran Regime Change as "Bonus Victory," Primary Goal Is to Destroy Its Nuclear Program
Gate News report: On March 18, according to Axios, U.S. officials stated that Trump would view Iranian regime change as an "additional victory," but he intends to end the war after achieving his main objectives. Trump's primary goals include: destroying Iran's missile and nuclear programs, navy, and funding sources for its proxies.
GateNews3h ago
Bitcoin Short-Term Breakdown Below 72,000 Mark, Ethereum Drops to 2,200 USD! 175 Million Liquidated Across the Network in 4 Hours Before FOMC
On the evening of March 18, the cryptocurrency market experienced severe volatility, with Bitcoin and Ethereum prices plummeting. Global liquidation amounts approached 3 billion dollars, and over 100,000 investors were forced to liquidate their positions. The market remains sensitive to Federal Reserve interest rate policy and geopolitical impacts, with concentrated long leveraged positions triggering a cascade effect. Even on decentralized trading platforms, massive loss events remind the market that risks persist.
動區BlockTempo4h ago
