Crypto campaign cash from Fairshake flooded Southern primaries, picked winners
The leading industry super PAC claimed a “6-0 sweep” in the primaries in Kentucky, Alabama and Georgia, though one big race awaits a runoff.
What to know:
- Half a dozen candidates in the primaries of three Southern states received significant backing from crypto super PAC Fairshake, in each case leading to a victory.
- The leading crypto PAC has been devoting tens of millions of dollars across the primaries in his year’s congressional midterm elections, in many cases focusing on candidates who are highly likely to win their later general elections because of the dominance of their parties.
The super PAC deployed more than $20 million in political advertising in three states, mostly to Republican candidates who are considered likely to win their deep-red regions in the November general elections. So far this year, Fairshake — which has in previous election cycles helped get dozens of pro-crypto candidates to Washington — has backed a lengthy list of primary winners, though it did experience some setbacks, most notably in the Illinois race in which it spent more than $10 million trying to defeat Lt. Gov. Juliana Stratton on her way to her Democratic primary victory in March.
Fairshake devoted more than $7 million each in Tuesday’s Senate primaries in Alabama and Kentucky. It backed Republican U.S. Representative Andy Barr in Kentucky to replace the longtime Senate powerhouse Mitch McConnell, and Barr won that primary handily with more than 60% of the vote. In Alabama, the $7.4 million spent by Fairshake didn’t quite get to a resolution, yet, because Representative Barry Moore didn’t get past the 50% mark despite leading his closest competitor by more than 13 percentage points, so the crypto-backed candidate will face a runoff.”Fairshake’s 6-0 sweep tonight was a clear victory for pro-crypto leaders across the country,” said Geoff Vetter, a spokesperson for Fairshake, in a statement. “This powerful bipartisan mandate is being heard across America from Georgia to Alabama to Kentucky.”
