The Trump loyalist secured more cryptocurrency funding than any other candidate in this year's midterm elections, marking a significant victory for the political interests of the crypto sector.
By Jesse Hamilton|Edited by Omkar Godbole Jun 17, 2026, 5:38 a.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Barry Moore, a candidate for the U.S. Senate, received over $12 million in cryptocurrency political contributions leading to his primary election win. (Alex Wong/Getty Images)SummaryShow- The crypto super PAC, Fairshake, celebrated another victory as U.S. Representative Barry Moore won the Alabama runoff election for the Senate seat.
- Fairshake supported Moore, a consistent advocate for crypto legislation, with over $12 million.
The cryptocurrency sector's campaign financing efforts have heavily invested in Barry Moore's Senate campaign, with the leading political action committee contributing upwards of $12 million to secure his spot on the general election ballot.
The strategy proved effective. On Tuesday, Moore emerged victorious in the Republican primary runoff against former Navy Seal Jared Hudson. As a staunch ally of Donald Trump, Moore is now favored to win the November general election due to Alabama's strongly Republican electorate.
The Fairshake super PAC, along with its affiliates, remains the foremost campaign-finance organization in the crypto industry, dedicating its largest expenditure to Moore, who has consistently supported significant crypto legislation during his tenure in Congress, having voted in favor of every major crypto bill. Moore fell short of a majority in the initial May primary, necessitating this week's runoff.
“Our largest expenditure of the election cycle has resulted in another champion for innovation in the Senate, and with nearly $150 million in cash reserves, we are poised to continue building the largest pro-crypto coalition in history,” stated Geoff Vetter, a spokesperson for Fairshake.
As of their latest reports to the Federal Election Commission, the group of related PACs had about $164 million available at the end of April, although expenditures were occurring at a rapid pace.
Moore's victory, capturing nearly 56% of the vote, is likely to offset the industry's recent setback in Illinois, where Fairshake had invested over $10 million attempting to unseat Lt. Gov. Juliana Stratton, who ultimately won the Democratic primary, making it likely that a Senate member opposing crypto interests will be elected. Despite this, most of Fairshake's outcomes have been favorable, and this latest win contributes to a growing list of successful primary candidates supported by the super PAC.
Moore, who was also endorsed by the Fellowship PAC linked to the crypto industry, aims to transition from his current position in the U.S. House of Representatives to the Senate seat vacated by Republican Senator Tommy Tuberville, who is pursuing a gubernatorial role.
Additionally, Fairshake invested $735,000 in U.S. Representative Kevin Hern during this week's Oklahoma Republican primary, where he secured his party's Senate nomination. Like Moore, Hern has also received Trump's endorsement.
Fairshake primarily receives support from three major crypto organizations: Coinbase, a16z Crypto, and Ripple. The PAC gained recognition in the previous election cycle for endorsing over 50 pro-crypto candidates from both parties who participated in the current Congress, surpassing many leading industry PACs and even some of the largest party organizations.
Starting this election year, the industry's campaign arm had $193 million, which it typically allocates towards advertisements that showcase what organizers believe to be the candidates' appealing political traits, rather than their stances on crypto. These "independent expenditure" advertisements are not affiliated with the candidates' campaigns.
Read More: The crypto industry’s massive political war chest is starting to lean Republican ahead of midterms
Election 2026RegulationLatest Crypto News- 1Live markets: A bitcoin bottom signal flashed as holders absorbed 125,000 BTC in June58 minutes ago
- 2XRP gives back breakout gains, slipping below $1.23 on heavy selling1 hour ago
- 3Uniswap jumps 22% and altcoins rip while bitcoin stalls before the Fed1 hour ago
- 4Here is why Strategy's dividend-paying crypto stock is crashing to near-historic lows8 hours ago
- 5Bitcoin miners' AI pivot faces $50 billion reality check, says VanEck9 hours ago
- 6U.S. senators urge Treasury not to leave states out of GENIUS Act stablecoin process9 hours ago
- 7Hyperliquid, Uniswap and Worldcoin buck crypto slump as traders chase AI, DeFi trends9 hours ago
- 8Coinbase introduces AI advisor, stock options, and pre-IPO markets in finance push11 hours ago
- 9Ripple invests in Flutterwave, pushing its stablecoin and XRP Ledger into payments across Africa14 hours ago
- 10Coinbase to join tokenized stock race with onchain shares, dividend payments14 hours ago
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
View Full ReportMore From Policy