PAC secures $11 mln to support pro-crypto candidates in 2026 U.S. midterms

Fellowship PAC, the new Tether-linked crypto super PAC, has received a $10 million donation from Wall Street bank Cantor Fitzgerald. 

According to a filing with the Federal Election Commission, it also received $1 million from Anchorage Digital in January, bringing its reported 2026 funding to $11 million. 

In a statement to Bloomberg, a spokesperson for Anchorage said, 

The firm made a corporate contribution to the Fellowship PAC as part of our broader, bipartisan approach to advancing regulatory clarity for digital assets in the United States.

The spokesperson added, 

As the first federally chartered crypto bank, we have always believed that crypto and thoughtful regulation go hand in hand. That commitment has guided our engagement with both Democratic and Republican administrations, and it will continue to do so.

Crypto PACs’ position for November midterms

The Fellowship PAC popped up last September and reported a commitment fund of over $100 million to support pro-crypto candidates in the U.S. midterm elections. Bloomberg linked the PAC to Tether and its close affiliates Cantor and Anchor Digital, which are its major donors. 

So far, the group has endorsed Alan Wilson, current AG of South Carolina, who is eyeing the governor’s seat via the Republican Party.

It also supports four senatorial aspirants: Pete Ricketts (Nebraska), Nate Morris (Kentucky), Julia Letlow (Louisiana), and Mike Collins (Georgia). 

Interestingly, Fairshake, the largest crypto PAC, also unveiled a $193 million war chest last year.

Fairshake is funded by Coinbase, Ripple, and the venture capital firm Andreessen Horowitz. The group was very instrumental in the 2024 elections and supported Donald Trump’s re-election bid, among other pro-crypto candidates. 

Still, Coinbase has another political action committee (PAC) called Stand With Crypto (SWC). 

In early 2026, Fairshake and Stand With Crypto campaigned against anti-crypto candidates in Illinois, especially La Shawn Ford of Illinois’s 7th Congressional District. 

Another group, Sentinel Action Fund, has secured $8 million from the Solana Policy Institute and Multicoin Capital to support pro-crypto Republican Jon Husted in the Ohio Senate race. 

But it’s not all about pro-crypto Republicans. Although the Democratic Party has been opposed to the sector, some of its pro-crypto candidates are being backed by the industry.

In fact, this is even more crucial given that the market is pricing an 85% chance the Democrats will regain control of Congress.

The end goal? Secure enough lawmakers to advance the CLARITY Act in 2027 if it fails to be passed this year. 

Final Summary

• Tether-linked Fellowship crypto PAC has secured $11 million from Anchorage Digital and Cantor Fitzgerald
• The market was pricing an 85% chance that Democrats would control Congress after the November midterms, underscoring regulatory risk if the CLARITY Act falters.