Ken Paxton is getting half a million dollars from a crypto-backed political committee. The Fellowship PAC, an $11 million fund supported by Cantor Fitzgerald and Anchorage Digital, disclosed to the Federal Election Commission that it plans to spend $500,000 backing the Texas attorney general in his bid for a US Senate seat.
A Bipartisan PushThe list crosses party lines. Republicans Barry Moore, Kurt Alme, and Jon Husted are among those picked for Senate races in Alabama, Montana, and Ohio. Democrat Angie Craig is backed for the Minnesota Senate race, while Adrian Boafo, Christian Menefee, and Don Davis received endorsements for House runs in Maryland, Texas, and North Carolina.
That figure stands in sharp contrast to Fairshake, a separate crypto PAC whose affiliates have already spent millions in some of the same races.
The Defend American Jobs PAC, a Fairshake affiliate, dropped a combined $8.5 million on media for some of the same candidates the Blockchain Leadership Fund is now endorsing.
Another affiliate, Protect Progress, spent more than $4.1 million backing Menefee in Texas and over $2 million supporting Boafo in Maryland.
Texas Takes Center StageThe Fellowship PAC’s $500,000 commitment to Paxton came after a reported earlier withdrawal of support, which had been linked to pressure connected to Commerce Secretary Howard Lutnick.
Paxton and Cornyn are heading into a Republican primary runoff. On the Democratic side, State Representative James Talarico, who won his primary in March, will face whichever Republican emerges from that contest.
Featured image from Hindustan Times, chart from TradingView
