Crypto money is turning up the heat on the Texas Senate race — and rippling across other battlegrounds. The Fellowship PAC, an $11 million crypto-aligned fund backed by Cantor Fitzgerald and Anchorage Digital, told the Federal Election Commission it will spend $500,000 to support Texas Attorney General Ken Paxton in his U.S. Senate bid. That commitment follows reports of an earlier withdrawal of support that had been tied to pressure involving Howard Lutnick, a key Cantor Fitzgerald figure. Separately, the Blockchain Leadership Fund — backed by Chainlink Labs and Anchorage Digital — unveiled endorsements for 10 candidates across seven states for the 2026 midterms: four for U.S. Senate and six for the House. The slate crosses party lines, signaling a bipartisan outreach strategy by industry players: - Senate picks: Republicans Barry Moore (Alabama), Kurt Alme (Montana), Jon Husted (Ohio), and Democrat Angie Craig (Minnesota). - House picks: Adrian Boafo (Maryland), Christian Menefee (Texas), Don Davis (North Carolina), plus three others included among the six. Anchorage Digital framed the approach as intentionally bipartisan: “We remain committed to supporting responsible innovation and constructive policymaking that brings digital assets further into the regulatory perimeter and strengthens trust in the ecosystem,” a company spokesperson said. But the Blockchain Leadership Fund’s war chest is modest so far. FEC filings show just $175,000 in contributions to date — $100,000 from Anchorage and $75,000 from Chainlink Labs. That contrasts sharply with other crypto-aligned groups already spending heavily in many of these same races. Fairshake-affiliated committees have poured millions into campaigns and advertising: the Defend American Jobs PAC spent about $8.5 million on media for overlapping candidates, while another Fairshake affiliate, Protect Progress, spent more than $4.1 million backing Christian Menefee and over $2 million supporting Adrian Boafo. The Blockchain Leadership Fund said it may add more endorsements before November for candidates who back responsible digital-asset policy. Texas remains the standout contest. Former President Donald Trump has endorsed Paxton over incumbent Republican John Cornyn, and crypto-aligned money has followed that backing. Paxton and Cornyn are set for a Republican primary runoff; on the Democratic side, State Representative James Talarico — who won his primary in March — will face whoever emerges from the GOP runoff. Featured image: Hindustan Times. Chart: TradingView.
Crypto PACs Back Bipartisan Candidates in 2026 Midterm Elections
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Summary
Crypto market groups are backing bipartisan candidates for the 2026 U.S. midterms. The Blockchain Leadership Fund and Fellowship PAC are using crypto-aligned funding to support candidates across seven states. Fellowship PAC, backed by Cantor Fitzgerald and Anchorage Digital, has pledged $500,000 to Texas AG Ken Paxton’s Senate run. The Blockchain Leadership Fund, supported by Chainlink Labs and Anchorage Digital, has endorsed 10 candidates and raised $175,000. The fund plans to add more candidates who support responsible digital-asset policy. Crypto analysis shows growing political engagement in the sector.
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