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According to reporter Eleanor Terrett (@EleanorTerrett), cryptocurrency critic and U.S. Representative Brad Sherman has advanced smoothly to the general election for California’s 32nd congressional district and will face pro-crypto Republican candidate Larry Thompson again in November. Thompson eliminated Democratic challenger Jake Levine in the primary, but he lost to Sherman by over 32 points in 2024. Given Sherman’s overwhelming advantage in this deeply blue district, attention is turning to whether the cryptocurrency political action committee (Crypto PAC) will be willing to invest funds to oppose Sherman.
According to CoinDesk, as the U.S. midterm elections heat up, cryptocurrency industry political action committees (PACs) are significantly increasing their financial support for congressional races. Some newly formed PACs are shifting their focus toward Republican candidates. The report notes that Fairshake remains the most influential super PAC in the industry, having already influenced primary outcomes in states like Texas through large-scale spending—and contributing to the defeat of long-time critic, Representative Al Green. Meanwhile, newer PACs such as Fellowship and the Digital Freedom Fund are backing Republican candidates more heavily, potentially undermining the bipartisan balance the crypto industry has maintained across several previous election cycles.
According to CoinDesk, the cryptocurrency Political Action Committee (PAC) spent a total of $9 million in Texas primaries, supporting winning candidates from both parties—demonstrating the industry’s active effort to secure political influence and laying early groundwork for the 2026 midterm elections.
According to Cointelegraph, cryptocurrency-related political action committees (PACs) and industry executives have invested over $500 million in the 2026 U.S. election, with Republican candidates receiving significantly more support than Democratic candidates.
the Blockchain Leadership Fund (BLF), a bipartisan hybrid political action committee (PAC) co-founded by Anchorage Digital and Chainlink Labs in March 2026, has released its first list of endorsements for the 2026 US midterm elections, providing campaign contributions to support multiple candidates from both parties in the Senate and House of Representatives.The endorsements include Senate candidates Barry Moore, Kurt Alme, Jon Husted, and Angie Craig, as well as House candidates Houston Gaines, Jim Kingston, Jon Bonck, Adrian Boafo, Christian Menefee, and Don Davis, covering key states such as Alabama, Montana, Ohio, Minnesota, Georgia, Texas, Maryland, and North Carolina. The fund stated it will continue to evaluate candidates and expand its support at the federal, state, and local levels. (Cryptoinamerica)
According to Axios, Fellowship PAC—a cryptocurrency-focused super political action committee funded by Howard Lutnick’s former firm Cantor Fitzgerald—disclosed in its Federal Election Commission (FEC) filing plans to spend $1.75 million supporting Ken Paxton in the Texas primary runoff. This move has raised alarms among senior Republican officials. Several top GOP officials called Lutnick on Tuesday, urging him to intervene and correct course. Republican leaders are concerned that the expenditure could interfere in a sensitive intra-party primary—Donald Trump has yet to publicly endorse either Paxton or Senator John Cornyn.
According to The Block, Sentinel Action Fund—a U.S. super PAC backed by the Solana Foundation—announced it will join forces with its sister advocacy organization Right Vote to spend $8 million supporting Republican Senator Jon Husted in Ohio’s upcoming election against Sherrod Brown, aiming to prevent the former senator and crypto skeptic Sherrod Brown from returning to the Senate. Jon Husted has long supported crypto innovation and backed several pro-crypto legislative initiatives, including the GENIUS Act. Per filings with the U.S. Federal Election Commission, the Solana Foundation has donated $750,000 to Sentinel Action Fund, while Multicoin Capital contributed $250,000.
According to Bloomberg, Wall Street bank Cantor Fitzgerald donated $10 million to the super political action committee Fellowship PAC in January this year. The committee aims to support U.S. political candidates who are pro-cryptocurrency. According to U.S. Federal Election Commission (FEC) filings made public on Wednesday, Jesse Spiro, Head of Government Affairs at Tether, serves as Chair of Fellowship PAC. The report states that Cantor Fitzgerald is currently run by the son of U.S. Secretary of Commerce Howard Lutnick, and Tether is one of its largest clients.
Odaily News Cantor Fitzgerald has donated $10 million to the pro-crypto political action committee Fellowship PAC, which is chaired by Tether U.S. executive Jesse Spiro.Fellowship PAC, established in 2025, has secured over $100 million in pledged funding and aims to support candidates who advocate for digital asset-friendly regulation. The organization has previously spent over $1 million on advertising support in multiple elections.Cantor has a close relationship with Tether, having provided custody services for its stablecoin reserves since 2021. This donation further strengthens their collaboration at the policy level.In addition to Cantor, institutions such as Anchorage Digital have also participated in the donations. Industry insiders believe that as regulatory battles intensify, the crypto industry is continuously increasing its political investment in Washington to push for a clearer and more enforceable regulatory framework.