The Fellowship PAC has endorsed Ken Paxton for the hotly contested Texas Senate seat, where Republican incumbent John Cornyn is currently expected to lose his seat.
The Fellowship PAC announced its support of Paxton following President Donald Trump’s endorsement of Paxton on May 19th. Trump’s support may be what is needed to help Paxton win the primary.
Paxton is described as very pro-crypto, which aligns with the current Trump administration. To quote Paxton’s website:
“America must be the crypto capital of the world and support innovation and growth. Digital assets are one of the defining frontiers changing the world, and the United States cannot afford to fall behind. Achieving that requires a clear, pro-growth regulatory framework, and passing critical legislation like the CLARITY Act is key to giving innovators certainty to build and scale. Empowering crypto innovators is critical to ensuring America’s long-term competitiveness and leadership.”
Paxton is currently the Attorney General for the State of Texas.
Cornyn is also supportive of crypto and of recent legislative moves that support innovation. He has personally invested in crypto index funds.
What Cornyn apparently gets wrong is the Trump loyalty test and certain policy disagreements. At the same time, Cornyn has supported the majority of the Trump administration’s policies.
Other politicians who are supported by the PAC include:
- Senator Lindsey Graham, South Carolina
- Alan Wilson – running for Governor in South Carolina
- Mike Collins – running for Senate in Georgia
- Julia Letlow – running for Senate in Louisiana
- Andy Barr – running for Senate in Kentucky
- Barry Moore – running for Senate in Alabama
- Blake Miguez – running for Senate in Louisiana
All of the above are members of the Republican Party, which has been largely supportive of Fintech innovation. While some Democrats have voiced support for recent bills addressing digital assets, in general, Republicans tend to embrace innovation and support consumers.
The Fellowship PAC is close to stablecoin issuer Tether but has also received the backing of Anchorage and Cantor Fitzgerald.
