The Fellowship PAC made headlines today after announcing over $100 million in funding for pro-innovation candidates ahead of the United States midterm elections.
Operating independently from Fairshake, this political action committee announced a stated mission to safeguard America’s global competitive edge in the cryptocurrency sector.
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A New Crypto Player in Politics
The Fellowship PAC, a new independent expenditure committee, announced today that it has pledged over $100 million to support pro-crypto and pro-innovation candidates.
According to its press release on X, the new Fellowship PAC aims to stand out from other pro-crypto groups like Fairshake and affiliates like Defend American Jobs and Protect Progress by focusing on openness and transparency.
Despite its statements, Fellowship has not yet disclosed who is behind its launch or its major backers.
What is certain, however, is that crypto lobbying is becoming increasingly intertwined in American politics.
Crypto’s Growing Political Momentum
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Crypto lobbying had a historic impact on the 2024 US federal elections. According to OpenSecrets, Fairshake—the industry’s leading super PAC—raised over $260 million and spent $195 million to help elect pro-crypto lawmakers.
Total raised and spent by Fairshake PAC in the 2024 election cycle. Source: OpenSecrets.The PAC’s external spending reached over $40 million last year and significantly swayed elections. This contributed to the defeat of several prominent congressional representatives, including Jamaal Bowman of New York, Cori Bush of Minnesota, Katie Porter of California, and Sherrod Brown of Ohio.
Meanwhile, individual billionaires closely tied to the crypto industry spent millions on Donald Trump’s reelection campaign.
This momentum has continued and shows signs of growing as the United States prepares for the November 2026 midterm elections.
In July, a Fairshake spokesperson announced it has $140 million in store for the US midterms. The latest Federal Election Commission (FEC) filing also showed that the super PAC raised more than $59 million in the first half of this year alone. Coinbase was the top contributor, making five donations totaling a little over $33.2 million.
Other notable contributors included Uniswap Labs, which gave just under $1 million, and Ripple Labs, which donated $23 million. Robert Leshner, CEO of Superstate Funds and an investor at Robot Ventures, contributed a little over $300,000, while the Solana Policy Institute donated $10,000.
The addition of the Fellowship PAC and its $100 million commitment demonstrates the crypto industry’s determination to influence American politics. This significant financial move is a strong signal that congressional candidates will not ignore as they enter the next election cycle.
Source: https://beincrypto.com/new-super-pac-commits-over-100m-to-protect-us-crypto-leadership/
