The Fellowship PAC, a pro-crypto advocacy group, has endorsed and financially supported several members of Congress. According to posts on X, the PAC has contributed to the following politicians:
- Blake Miguez: Currently, a Louisiana state senator who is running for an open House seat.
- Mike Collins: Currently a House Representative who is running to challenge a Democratic incumbent Senator, Jon Ossoff, in Georgia.
- Julia Letlow: Currently a House Representative in Louisiana, who is running in the Republican primary against incumbent Republican Senator Bill Cassidy
- Pete Ricketts: An incumbent Senator seeking re-election.
- Nate Morris: Running for the open Senate seat in Kentucky, which is being vacated by retiring Senator Mitch McConnell.
What these candidates have in common is that they are Republicans.
While some Democrats in Congress support digital asset innovation, they are far outnumbered by Republicans, who tend to support Fintech innovation and entrepreneurship in general.
The PAC has also made independent expenditures, such as supporting Clay Fuller to replace the outgoing Republican House Representative, Marjorie Taylor Greene.
Recently, the Fellowship PAC announced that Jesse Spiro, Vice President of Regulatory Affairs at Tether, was selected as Chairman of the PAC. When this announcement was made, the group stated:
“The Fellowship PAC will serve as a platform to channel support toward candidates who believe in open markets, responsible innovation, and long-term American leadership. This marks the beginning of an expanded effort to back principled, forward-looking policymakers- and to ensure the future of innovation is built in the United States.”
The crypto industry has benefited from rapid, if at times unregulated, growth, which has generated the funds needed to play the political game inside the beltway. While establishment finance, like traditional banks, has excelled at lobbying Congress for many decades, the crypto sector is relatively new to the ways of Washington. If anything, the industry has been quick to learn.