What is Fellowship PAC and what did it do in the Texas Senate race?

The crypto-aligned Fellowship PAC spent over $3 million on US political advertising, including $1.75 million backing Ken Paxton in the Texas Senate primary. The spending supports candidates viewed as favourable to the crypto industry. This highlights growing political involvement from crypto-linked groups.

Who is Ken Paxton competing against in the Texas Senate race?

Ken Paxton is facing incumbent Senator John Cornyn in a Republican runoff scheduled for May 26. The winner will become the party’s candidate for the 2026 Senate election. This race is a key battleground for influence within the Republican party.

How much has Fellowship PAC spent overall on elections?

Fellowship PAC reported spending more than $3 million across multiple Senate and House races. This includes funding candidates in Georgia, Alabama, and Louisiana. The majority of spending was concentrated on the Texas Senate race.

Who else received funding from Fellowship PAC?

The PAC allocated $350,000 each to Mike Collins and Barry Moore, and additional funds to Blake Miguez and Julia Letlow. These candidates are also considered aligned with pro-crypto policies. The spending reflects a broader strategy beyond Texas.

Who is behind Fellowship PAC and its funding?

Fellowship PAC is linked to crypto industry figures, including leadership tied to Tether. It claims to have access to over $100 million from undisclosed investors, though only $11 million has been officially reported. The lack of transparency around donors raises questions about funding sources.

How do crypto PACs influence elections?

Crypto PACs use funding for advertising, media campaigns, and voter outreach to support candidates with favourable regulatory views. Groups like Fairshake have already spent heavily in past elections. This can shape voter perception and policy direction.

Why is the crypto industry getting involved in US politics?

The industry is aiming to influence regulation, taxation, and innovation policies affecting digital assets. Supporting pro-crypto candidates can help create a more favourable legal environment. This is especially important as governments increase scrutiny of crypto markets.

What controversies surround Ken Paxton?

Ken Paxton was impeached in 2023 over corruption allegations but was later acquitted by the Texas Senate. These past issues may influence voter perception in the runoff. Despite this, he remains a major political figure in Texas.

Fellowship PAC spends $1.75M on Paxton bid

Written by Heidi Cuthbert Published Apr. 24 2026Last Updated Apr. 24 2026

The crypto-aligned Fellowship PAC has spent $1.75 million supporting Ken Paxton in Texas’ upcoming Senate runoff race.

A filing with the Federal Election Commission showed the PAC allocated the majority of its more than $3 million advertising spend to Paxton, who faces incumbent John Cornyn in the May contest.

The spending also included funds backing other Republican candidates, with smaller allocations directed toward races in Georgia, Alabama and Louisiana through marketing firm Nxum Group.

Fellowship PAC, launched in September and linked to figures associated with Tether, claims support from crypto-aligned investors, though only $11 million in contributions has been formally disclosed.

Crypto-focused political groups such as Fairshake are expected to play a growing role in the 2026 US midterm elections after spending more than $131 million during the 2024 cycle.

Paxton’s candidacy follows a controversial tenure as Texas Attorney General, including a 2023 impeachment by the state House before his subsequent acquittal by the Senate.

The race comes amid rising intersection between crypto and politics, with platforms like Kalshi recently penalising candidates for betting on their own election outcomes, highlighting increasing scrutiny across both sectors.