Crypto PAC Fellowship halts support of Texas AG for Senate: Report
After reporting more than $1.7 million to election officials, a crypto-aligned political action committee has reportedly backed out of advertising for a Texas Senate candidate....
Key takeaways
- 1Crypto PAC Fellowship reported $1.75 million in Ken Paxton ads to FEC but reportedly never placed them after Republican pressure.
- 2Fellowship PAC, claiming $100 million in crypto-backed funding, withdrew support for Texas AG's Senate race following inquiries about Commerce Secretary Lutnick's connections.
- 3Over 120 crypto industry entities urged Senate to advance the CLARITY Act market structure bill, stalled for months without full chamber vote scheduled.
Why it matters
This signals crypto PAC influence in US elections faces political resistance, potentially weakening industry lobbying power. Senate control shift to Democrats in 2026 could derail pro-crypto legislation like the market structure bill, directly impacting regulatory environment for Indian investors exposed to US crypto markets.
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