Crypto-Backed Super PAC Raises Over $100M to Influence U.S. Elections

Fellowship PAC Emerges as Major Crypto Political Player with $100M Funding

The Fellowship PAC, a newly formed political action committee dedicated to supporting pro-crypto candidates in the United States, announced it has raised over $100 million from undisclosed sources. Established in August, the PAC’s mission is to back federal candidates who align with the Trump administration’s digital asset strategy and to foster regulatory clarity for the cryptocurrency industry.

In a statement on X (formerly Twitter), Fellowship PAC emphasized its goal to prevent a talent and entrepreneurial exodus from the U.S. crypto sector by ensuring regulatory certainty. “This PAC is designed to align the interests of crypto entrepreneurs, policymakers, and the public, ensuring trust and accountability as we continue building the ecosystem,” the group said, indicating that this initiative represents only the beginning of their political engagement.

Context: Crypto Influence in U.S. Elections Grows

The Fellowship PAC is among several crypto-backed political organizations seeking to influence U.S. elections. For instance, Fairshake PAC, primarily funded by Coinbase and Ripple Labs, spent more than $130 million on advertising in the 2024 congressional races, potentially impacting election results.

Fellowship PAC formally filed its statement of organization with the U.S. Federal Election Commission (FEC) on August 7 but had not reported any contributions or expenditures as of early October.

Unverified Reports on Donor Identities

Initial reports suggested that notable crypto figures such as Cameron and Tyler Winklevoss, co-founders of Gemini, contributed to Fellowship PAC’s fundraising. However, Cointelegraph was unable to independently confirm these claims. Sources close to Fairshake PAC indicated no evidence that Coinbase is involved with Fellowship PAC. Representatives from Coinbase, Gemini, and Fellowship PAC did not respond to requests for comment.

Crypto Money’s Role in Upcoming Elections

In a related development, the Winklevoss twins reportedly donated over $21 million in Bitcoin to a political action committee supporting President Donald Trump’s crypto agenda. The aim is to influence elections to sustain a Republican majority in Congress.

While the next U.S. midterm elections are scheduled for November 2026, crypto-backed spending has already played a role in earlier races. For example, Democrat James Walkinshaw’s victory in a Virginia special election was supported by over $1 million in spending from Protect Progress PAC, affiliated with Fairshake.

The growing involvement of digital asset-backed PACs signals an intensifying effort by the crypto industry to shape U.S. policy and regulation through electoral influence.