Fellowship, a super political action committee (PAC) that claims to have $100 million in its war chest from crypto-aligned parties ahead of the 2026 US midterms, has begun reporting spending and endorsements for the next election.
According to a filing with the Federal Election Commission (FEC), the Fellowship PAC reported spending $300,000 on advertising for Clay Fuller, a Republican who won a special election for Georgia's 14th Congressional District to replace resigning congresswoman Marjorie Taylor Greene. The spending, reported disbursed on Tuesday, comes about a month before Georgias Republican primary on May 19.
Source: Federal Election Commission
Fellowship is just one of several crypto-backed or aligned PACs expected to pour money to support or oppose candidates in another critical US election season. In 2024, the Fairshake PAC spent more than $130 million in media buys in congressional races, possibly influencing the outcomes in key battlegrounds like the US Senate seat for Ohio.
According to the FEC, super PACs may “receive unlimited contributions from individuals, corporations, labor unions and other PACs for the purpose of financing independent expenditures and other independent political activity.”
In addition to its only reported expenditure since the Fellowship PAC‘s statement of organization filed in 2025, Fellowship posted endorsements for candidates to its X account on Thursday, signaling support for Republicans in races across five states. The candidates included Alan Wilson for South Carolina governor, Blake Miguez for Louisiana’s 5th Congressional District, Mike Collins for the US Senate in Georgia, Julia Letlow for the US Senate in Louisiana, Pete Ricketts for the US Senate in Nebraska and Nate Morris for the US Senate in Kentucky.
Fellowship announced its launch in September, claiming to have “over $100 million” from undisclosed backers aligned with the crypto industry. On April 1, it said that Tethers head of government affairs, Jesse Spiro, would chair the PAC, signaling support for candidates with pro-crypto views.
US lawmakers are still stalled on crypto market structure bill as midterms approach
The CLARITY Act, legislation passed by the US House of Representatives in July, has faced several delays in the Senate with no clear path forward on passing the legislation as of Monday.
Reports over the weekend signaled that the Senate Banking Committee, one of the two bodies needed to approve the bill in the chamber before a vote, was planning to hold a markup on the legislation, but the event was not on the committees calendar at the time of publication.
The bill, expected to be one of the most comprehensive pieces of legislation affecting the crypto and banking industries, has faced pushback from lawmakers to address ethics, stablecoin yield, tokenized equities and other potential issues.