Republicans Push Back on Crypto PAC’s Texas Primary Intervention, Ask Lutnick to Stop It

Republican leaders have pushed back against an effort by crypto industry money to enter Texas’s Senate primary, Axios reported on April 23, saying they asked Commerce Secretary Howard Lutnick to stop it.

Senior Republican figures recently called Lutnick after Fellowship PAC filed with the Federal Election Commission a plan to spend $1.75 million to support Texas Attorney General Ken Paxton, according to the report.

Fellowship PAC is a crypto super PAC tied to Cantor Fitzgerald, where Lutnick previously worked. Republicans have raised concerns that the move could affect a sensitive primary race. Outside spending could become a political liability while President Donald Trump has not clearly backed either Paxton or John Cornyn.

The National Republican Senatorial Committee also sharply criticized the move. Spokeswoman Joanna Rodriguez said supporting the candidate running second in the primary would be a political mistake that could risk handing the Senate to Democrats.

Still, the advertising campaign appears not to have gone forward. Multiple people familiar with the matter said Fellowship PAC did not run the ads disclosed to the FEC, and no related political advertising had been prepared. AdImpact, an ad-tracking firm, also said it had no record of the PAC or its partner, Nxum, airing ads in this election cycle.

It was not clear whether Lutnick responded to the Republicans’ request.

The crypto industry, meanwhile, is expanding its influence in US politics. It spent about $120 million to $130 million in the 2024 election, and major PAC Fairshake is reported to hold about $200 million ahead of the 2026 election. Fellowship PAC had also set a $100 million fundraising target for the 2026 election and has raised about $11 million so far.