The crypto industry has spent $200 million to get a bill too corrupt for Democrats to pass and a president too corrupt to sign anything that might meaningfully limit his grift.
The crypto industry spent the spring buying primaries, an octagon at the White House, and — they hope — a market-structure bill by the Fourth of July.
Tiffany Muller talks to me about what Citizens United enabled, how crypto and AI fit into the bigger picture of money in politics, and what it would actually take to fix this broken system.
Most voters don’t know that crypto and AI companies have spent more than $400 million this cycle to buy Congress. Let’s make that spending visible.
A crypto billionaire who escaped fraud allegations after investing hundreds of millions of dollars into the Trump family’s crypto projects is now accusing them of fraud
The White House says Commerce Secretary Howard Lutnick properly divested from Cantor Fitzgerald by transferring leadership to his sons.
Anyway GOP officials called Lutnick about a Cantor-funded PAC planning to spend $1.75M on Ken Paxton and the PAC reversed course, but that’s probably just how independent companies behave when the former owner gets a phone call.
When will they learn? The party remains far too solicitous of an industry that’s rewarded their fealty with four years of Trump and untold damage to democracy.
The new Fellowship crypto PAC has filed its first fundraising disclosure. It reports a $10 million contribution from Cantor Fitzgerald (previously headed by Commerce Secretary Howard Lutnick, now controlled by his sons) and $1 million from Anchorage Digital.
The Fellowship PAC launched in September with an announcement that they had $100 million committed. They've recently revealed that the PAC is headed by Tether's head of government affairs Jesse Spiro, and endorsed a slate of Republicans.
Fellowship PAC has made three independent expenditures so far, totalling $1.5M:
In September 2025, a new cryptocurrency super PAC launched, claiming to have $100 million committed.
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:
Coinbase is accused of holding the cryptocurrency industry hostage over stablecoin rewards, prediction markets face an onslaught of opposition, and a Stand With Crypto poll can’t even get enthusiasm from its own activists