KEY POINTS
- The PAC is affiliated with Fairshake, which is backed by Coinbase and Ripple, among other top crypto entities and figures
- Moreno was endorsed by Trump even before he won the Ohio primary in March
- The pro-crypto candidate appears to have been supportive of Bitcoin since 2021
Defend American Jobs, which is affiliated with pro-crypto super PAC Fairshake, is on a roll as it announced Tuesday the first three candidates it will support with TV buys, and one of them is Bernie Moreno, who swept the Ohio primary in March and has Donald Trump's endorsement.
Who is Bernie Moreno?
Moreno is a known cryptocurrency and blockchain advocate, who was the talk of the crypto town for several days after he won the Ohio primary in March. Several prominent crypto figures welcomed his primary win, including the Chamber of Digital Commerce's Perianne Boring, who said Moreno's journey toward unseating Democratic Sen. Sherrod Brown was "the race to watch."
Ahead of March's primaries, Moreno already received an endorsement from Trump, who, in recent months, has been expressing support for the crypto sector that often experienced "hostility" from the Biden government.
Millions for Moreno's TV ads
On Tuesday, super PAC Defend American Jobs announced it will set aside a staggering $12 million to support Moreno's senatorial bid. The PAC is affiliated with Fairshake, which is backed by some of the biggest companies and figures in the crypto space such as crypto giant Coinbase, Marc Andreessen, and Ripple.
🚨NEW: Pro-#crypto super PAC Fairshake’s affiliated super PACs have announced their first round of support for Senate candidates in the General Election.
— Eleanor Terrett (@EleanorTerrett) August 13, 2024
Defend American Jobs will begin by reserving approximately $12M in support of @berniemoreno in his race against…
Interestingly, Brown, who chairs the Senate Banking Committee, has been vocally critical of digital assets and has signaled hesitance in supporting crypto legislation for clarity in the sector.
Specifically, the PAC is looking to support Moreno's Ohio airtime to get more people to know the blockchain entrepreneur, who is tagged by the crypto movement Stand With Crypto as a candidate who "strongly" supports the sector.
"Our mission is clear – support candidates who embrace innovation, want to protect American jobs, and are committed to working across the aisle to get things done and oppose those who do not," said Josh Vlasto, Fairshake's spokesman of the PAC's announcement.
What has Moreno said about crypto?
As far back as late 2021, Moreno re-posted a post by prominent journalist Glenn Greenwald wherein the latter said Bitcoin technology is "in its infancy stages of understanding" but otherwise, acceptance and adoption of the digital currency "is coming."
By early 2022, Moreno already appeared convinced of what $BTC could do. "Until the financial world realizes their system needs an overhaul, Bitcoin will continue to grow and become widely accepted," he wrote at the time.
It takes three to five days to wire money internationally and massive fees are charged. It happens instantaneously with #bitcoin with zero fees.
— Bernie Moreno (@berniemoreno) March 26, 2022
Until the financial world realizes their system needs an overhaul, Bitcoin will continue to grow and become widely accepted.
Earlier this year, he blasted Brown for having "no clue about crypto" and supposedly being a "lap dog" for Sen. Elizabeth Warren, D-Mass., who is deemed very critical of the crypto industry.
In March, he said the November elections will be "a choice between those that support Bitcoin and those that support" central bank digital currencies (CBDCs).
This election is a choice between those that support @Bitcoin and those who that support Central Bank Digital Currencies.
— Bernie Moreno (@berniemoreno) March 5, 2024
Vote for freedom over tyranny on March 19th! https://t.co/EVEDBde3y8
