Activity tagged "crypto lobby"

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In September 2025, a new cryptocurrency super PAC launched, claiming to have $100 million committed.

Press release from Fellowship PAC: THE FELLOWSHIP PAC The Fellowship PAC Launches With Over $100 Million Committed to Protect America's Leadership in Innovation and Transparency Washington, DC September 15th., 2025: The Fellowship PAC, a new independent-expenditure, today announced over $100 million commitment to back pro-innovation, pro-crypto candidates who will safeguard America's role as the global leader in digital assets and entrepreneurship. The Fellowship PAC represents the next step in the industry's evolution-building on the unprecedented momentum that innovators, entrepreneurs, and investors have already created. Unlike past political efforts, the Fellowship PAC's mission is defined by transparency and trust, ensuring political action directly supports the broader ecosystem rather than narrow or individual interests. Under President Trump's administration, a regulatory framework is being established that puts America on the path to become the global crypto capital. The Fellowship PAC will exist to carry that momentum forward, reinforcing America's competitive edge in digital asset innovation and guaranteeing that founders and domestic crypto companies have the freedom, clarity, and regulatory support to build the future here at home. The PAC will focus on: Supporting candidates committed to transparent and predictable rules for digital assets. Protecting America's global competitive advantage in technology and entrepreneurship. Ensuring that the innovation economy reflects American values of openness, fairness, and opportunity. Preventing the continued exodus of talent and entrepreneurs offshore by keeping the U.S. the best place to innovate, and providing firm regulatory clarity. Transparency and trust is our differentiator. 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. This is not the end-it's only the beginning. More to come. About the Fellowship PAC: The Fellowship PAC is registered as an independent-expenditure-only committee (super PAC). It does not coordinate with candidates or parties. Its mission is to ensure the United States remains the global leader in crypto and innovation through transparent, ecosystem-wide support.

If true, it would mean the crypto super PACs would have nearly half again as much cash to deploy in the midterms. But their EOY filing showed $0, and I was beginning to wonder if it was a bust.

A week ago, Fellowship PAC announced that Jesse Spiro, head of government affairs at stablecoin company Tether, would be chairing the PAC. Now they've endorsed a slate of Republican candidates, and made their first expenditure ($300,000 in the last moments of Clayton Fuller's successful bid for the special election in GA-14).

It seems like this PAC will indeed be entering the playing field, and potentially dramatically increasing the amount of money in play on behalf of the crypto industry if their earlier claims around funds committed are to be believed. There are a few more days until their quarterly filing is due, at which point we should get more insight into how much money this PAC has on hand and where it's coming from.

Their endorsements so far:

  •  Alan Wilson, South Carolina governor
  • Mike Collins, Georgia Senate
  • Julia Letlow, Louisiana Senate
  • Pete Ricketts, Nebraska Senate (incumbent)
  • Nate Morris, Kentucky Senate
  • Blake Miguez, Louisiana House District 5
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90% of crypto's Illinois primary spending failed to achieve its objective

The cryptocurrency industry super PACs dumped $14.2 million into the Illinois primaries. 90% of that – $12.8 million – was wasted, in that it went to opposing Democratic candidates who won their primaries (Stratton in the Senate race, Ford in H-07) or supporting their opponents.

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The Fairshake pro-crypto super PAC network spent $10 million to oppose Senate candidate Juliana Stratton and $2.5 million to oppose H-07 candidate La Shawn Ford, both of whom won their primaries

The PACs' only victories in the state were where they contributed money towards outcomes that were already highly likely. They opposed Robert Peters (H-02), who had been polling in third place and ultimately received 12% of the vote. They supported Bean (who was leading the polls in H-08) and incumbent Budzinski (H-13).

Sadly this early spending in Illinois used up less than 6% of what the super PACs have on hand, so buckle up for a looong eight months.

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 There are a number of senators who’ve taken a look at this but there seems to be no will to move forward because No. 1, people don’t understand A.I., but because, No. 2, we’ve seen the entry of really big political money tied to A.I. Just like the crypto space, a lot of senators are scared to stick their neck out even though action is being demanded of us on this issue.

Fascinating comment on AI regulation from Elissa Slotkin of all people, who received $10 million — the second-most support — from crypto PACs in 2024.

“The Future We Feared Is Already Here”.
Ezra Klein in The New York Times.
The showdown between the Pentagon and Anthropic is a window into how unprepared we are for the questions we are facing.
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Great background on why Coinbase sank the crypto bill they’d just spent months lobbying for, and the fundamental conflict between the banking lobby and the crypto lobby when it comes to stablecoin interest.

“Monopoly Round-Up: The Slow Death of Banking in America”.
Matt Stoller in BIG by Matt Stoller.
Crypto interests came after the local banker last week in a bitter Congressional fight. They didn't win, but it's not over. Plus, the "Mamdani effect" is real, and Canada aligns with China.