Fellowship PAC Spends $1.75 Million on Texas Republican Senate Primary

A political action committee tied to the crypto industry is ramping up its influence in U.S. elections by pouring money into Texas' Republican Senate primary.

Cointelegraph reported on April 23 that Fellowship PAC disclosed in a filing with the Federal Election Commission that it spent $1.75 million to support Texas Attorney General Ken Paxton. Paxton is scheduled to face incumbent Senator John Cornyn in a May 26 runoff that will determine the Republican nominee for the 2026 Senate election.

Fellowship PAC has spent more than $3 million overall on Senate and House campaign advertising, with more than half directed to the Texas contest. It spent $350,000 on Mike Collins in Georgia and $350,000 on Barry Moore in Alabama. In Louisiana, it allocated $250,000 to Blake Miguez and $350,000 to Julia Letlow.

The money was routed through Nxum Group, a marketing company co-founded by Bo Hines, a former White House crypto adviser and chief executive officer of Tether's U.S. unit.

When it launched in September 2025, Fellowship PAC said it had secured more than $100 million from anonymous investors linked to the crypto industry. Contributions disclosed to the Federal Election Commission so far total about $11 million. The identities of the donors have not been disclosed.

Crypto-backed PACs, including Fellowship PAC, have been increasing ad and media spending to support candidates friendly to digital assets, a trend that could sway election outcomes. Fairshake and its affiliates spent more than $131 million during the 2024 election cycle.

Separately, the Texas primary also produced a case in which a candidate bet on his own race. Prediction market platform Kalshi said it banned Texas' 21st District candidate Ezekiel Enriquez from the platform for five years and imposed a $784 fine after finding that he had wagered less than $100 on his own election.