New Super PAC With GOP Ties Pledges $100M to Back Pro-Crypto Candidates in 2026 Midterms

“Under President Trump’s administration, a regulatory framework is being established that puts America on the path to become the global crypto capital,” the group said in a news release. “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.”

Neither the release nor the PAC’s website identify the organization’s funders, but according to the New York Times, it appears to have close ties to the Trump administration. The PAC’s treasurer, listed in paperwork filed last month with the Federal Election Commission, is Mitchell Nobel, an executive with Cantor Fitzgerald, the Wall Street firm previously led by Secretary of Commerce Howard Lutnick.

Per the Times, the group’s backers are expected to include Tether, the world’s largest issuer of stablecoins. Tether is based overseas, but recently established a U.S. subsidiary that legally could contribute to U.S. election campaigns.

The crypto company has had a checkered past, including accusations of falsely stating its finances. But it recently hired Bo Hines, formerly Trump’s top cryptocurrency advisor, in a bid to curry favor with the administration.

Related: Cracks Appear in Senate GOP Support for Crypto Market-Structure Bill

The new group’s explicitly partisan ties mark a sharp contrast the scrupulously bipartisan positioning of the industry’s leading PAC, Fairshake, the Times reports. Fairshake spent heavily during the 2024 election cycle, contributing to both Republican and Democratic campaigns and has already banked $120 million from the likes of Coinbase and Andreessen Horowitz, among others, for the 2026 midterms.

In its news release the Fellowship PAC explicitly differentiated itself from other pro-crypto political groups.

“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,” the release said.

The group said it will support candidates “committed to transparent and predictable rules for digital assets,” and ensuring that “the innovation economy reflects American values of openness, fairness, and opportunity.”

The debate over crypto regulation is expected to figure prominently in the 2026 midterms, if only in directing campaign spending if not featuring in headlines. While the industry has won friends in Congress from both sides of the aisle the rush to refashion financial-market regulations to accommodate crypto has lately faced pushback from both sides as well.

Democrats in particular have also been highly critical of the Trump family’s extensive crypto dealings, claiming they pose serious conflicts of interest. The Times on Wednesday separately published a long investigative report on the confluence of an agreement by Dubai to deposit $2 billion into World Liberty Financial, the Trump family-controlled crypto firm, and an agreement by the U.S. to allow the United Arab Emirates access to the most advanced AI chips.

“While there is no evidence that one deal was explicitly offered in return for the other, the confluence of the two agreements is itself extraordinary,” the Times wrote. “Taken together, they blurred the lines between personal and government business and raised questions about whether U.S. interests were served.”