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A new political action committee (PAC) concentrating on endorsing \u201cpro-innovation, pro-crypto candidates\u201d within the United States has been initiated with $100 million.<\/p>\n
In a post on X this Monday, the Fellowship PAC announced<\/a> it was established \u201cwith over $100 million\u201d from undisclosed sources to support the digital asset strategy of the Trump administration.<\/p>\n The PAC indicated its intention to back particular candidates for federal positions and avert an \u201cexodus of talent and entrepreneurs\u201d from cryptocurrency firms in the US by aiding in providing regulatory clarity.<\/p>\n \u201cThis PAC is crafted to align the interests of crypto entrepreneurs, policymakers, and the public, ensuring trust and accountability as we persist in developing the ecosystem,\u201d stated Fellowship. \u201cThis is not the conclusion \u2014 it\u2019s merely the outset. More is on the way.\u201d<\/p>\n The Super PAC, aimed at advocating crypto policies and possibly swaying vital US elections in the House of Representatives and Senate, is among numerous interest groups backed by digital assets.<\/p>\n In 2024, the Fairshake PAC, a committee primarily funded by donations from Coinbase and Ripple Labs, allocated over $130 million<\/a> on advertisements in congressional contests \u2014 expenditures that could have influenced electoral outcomes.<\/p>\n Related: <\/strong><\/em>Crypto firms intensify efforts to influence US elections via PACs in 2026<\/strong><\/em><\/a><\/p>\n The Fellowship PAC submitted<\/a> a statement of organization to the US Federal Election Commission (FEC) on Aug. 7 and had reported no contributions or expenditures as of Monday.<\/p>\n