Crypto-Backed Fellowship PAC Spends Millions to Influence Texas Senate Race

Crypto-aligned Fellowship PAC has disclosed spending more than $3 million on advertising tied to several U.S. Senate and House races, with the largest share directed toward Texas Attorney General Ken Paxton. According to filings submitted to the Federal Election Commission, the PAC allocated approximately $1.75 million to support Paxton ahead of a May 26 runoff election against incumbent Senator John Cornyn.

Additional campaign spending included $350,000 for Mike Collins in Georgia, $350,000 for Barry Moore in Alabama, and support for Louisiana candidates Blake Miguez and Julia Letlow. Most expenditures were routed through Nxum Group, co-founded by former crypto policy adviser Bo Hines.

Crypto Industry PACs Expected to Shape 2026 Elections

Founded in September, Fellowship PAC reported more than $11 million in contributions, although it previously claimed access to over $100 million from investors aligned with digital asset interests. Similar crypto-backed groups, including Fairshake, have significantly increased political spending in recent election cycles.

Meanwhile, election-related controversies have also reached prediction markets. The platform Kalshi recently suspended Texas congressional candidate Ezekiel Enriquez for five years and imposed a $784.20 penalty after he purchased contracts tied to his own election race.

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