Crypto PAC Fellowship reveals $11M backing

Crypto-focused political action committee Fellowship disclosed $11 million in contributions from financial institutions in a filing with the US Federal Election Commission.

The PAC reported receiving $10 million from Cantor Fitzgerald and $1 million from Anchor Labs, linked to Anchorage Digital, alongside $3 million in advertising spend.

The advertising was conducted through Nxum Group, a firm co-founded by Bo Hines, highlighting close ties between the PAC and crypto industry leadership.

Fellowship had previously claimed access to more than $100 million in backing at launch, though earlier filings showed limited disclosed contributions before 2026.

The spending reflects a broader trend of crypto-backed PACs deploying significant capital in US elections to support candidates viewed as favourable to the industry.

The committee also reported $1.5 million in media spending backing Republican candidates in Georgia, Nebraska and Kentucky ahead of upcoming primaries.

The PAC’s treasurer, Mitchell Nobel, also serves as Cantor Fitzgerald’s head of digital asset strategy, underscoring overlapping roles between finance and crypto policy efforts.