"$5 Million Bet"... Crypto Industry Wades into U.S. Senate Race
A major political fundraising group representing the virtual asset industry has injected a substantial amount of money into the Alabama Senate race, signaling the start of its 2026 midterm election efforts to rally pro–virtual asset politicians.
According to crypto-focused outlet Cointelegraph on Feb. 11 (local time), Fairshake, a leading Super PAC in the digital asset sector, has decided to spend $5 million to support Representative Barry Moore, who is running in the Republican primary for the U.S. Senate in Alabama. This marks the first time Fairshake has directly intervened in a Senate race during the 2026 midterm cycle and reflects the industry’s determination to expand its political influence with the goal of clarifying virtual asset regulations. Moore is competing for the seat being vacated by retiring Senator Tommy Tuberville.
Moore is widely regarded as a staunch pro–virtual asset lawmaker who has long shown deep interest in the sector. He is known to have personally traded Ethereum (ETH), Cardano (ADA), and Dogecoin (DOGE) during his time in Congress and has consistently emphasized that digital assets will serve as a key driver of next-generation financial innovation in the United States. In particular, his efforts to represent the industry’s voice in legislative processes and to check excessive intervention by regulators are cited as key factors behind Fairshake’s strong backing.
Behind the latest funding move are major players in the digital asset industry. Fairshake operates with substantial contributions from leading companies such as Coinbase and Ripple and has previously spent tens of millions of dollars in past election cycles, significantly influencing electoral dynamics. Ripple, which advocates cross-border payment innovation based on XRP, has actively exercised political influence through Fairshake to secure policy support. The $5 million investment is expected to become an important variable not only in the outcome of the Alabama primary but also in shaping the future direction of virtual asset policy in the U.S. Senate.
In Washington, the case is seen as further proof of the growing impact of digital asset capital on election outcomes. Beyond Moore, Fairshake has been broadly seeking and supporting both Republican and Democratic candidates who show favorable attitudes toward fostering the digital asset industry. These moves suggest that virtual assets have emerged as a central issue in mainstream politics rather than remaining the domain of a limited group of investors, prompting politicians to adopt more proactive policies to win the support of crypto-minded voters.
Ultimately, the Alabama Senate primary is expected to serve as a test of cohesion within the pro–virtual asset camp. If Moore succeeds in winning a Senate seat with Fairshake’s financial backing, support for digital assets within Congress is likely to strengthen further. Industry observers anticipate that additional funds will be directed toward key battlegrounds, closely watching how shifting political dynamics could determine the fate of virtual asset regulatory legislation.
Disclaimer: This article is for investment reference only and the publisher is not responsible for any investment losses incurred based on its content. The information provided should be interpreted for informational purposes only.
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