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A new political action committee (PAC) dedicated to championing “pro-innovation, pro-crypto candidates” in the United States has launched with an initial fund of $100 million. The Fellowship PAC announced its formation via a Monday post on X, revealing that the funds come from unidentified sources and aim to bolster the Biden administration’s digital asset policies.

The PAC’s primary goal is to support candidates at the federal level and to prevent the U.S. from losing its competitive edge in blockchain innovation. Specifically, it seeks to foster regulatory clarity to attract and retain crypto entrepreneurs and talent within the country. “This PAC is designed to align the interests of crypto entrepreneurs, policymakers, and the public, ensuring trust and accountability as we continue building the ecosystem,” Fellowship stated. “This is not the end — it’s only the beginning. More to come.”

This Super PAC aims to influence key U.S. elections, including races in the House of Representatives and Senate, by promoting policies favorable to the crypto industry. It joins other digital-asset-backed interest groups in actively shaping the political landscape. In the lead-up to the 2024 elections, the Fairshake PAC, primarily funded by Coinbase and Ripple Labs, spent over $130 million on congressional advertising, which could impact election outcomes.

Related: Crypto firms double down on influencing US elections via PACs in 2026

The Fellowship PAC filed its documentation with the Federal Election Commission (FEC) on August 7, but as of this week, had reported no contributions or expenditures. Though initial speculation suggested that founders of Coinbase and Gemini had contributed to the $100 million fund, the PAC has denied such claims. Representatives from Coinbase, Gemini, and Fellowship have yet to respond to inquiries about the fundraising efforts.

Additional reports indicate that the Winklevoss twins contributed over $21 million worth of Bitcoin to the PAC, supporting the Trump administration’s crypto agenda amid attempts to influence the 2024 elections. Meanwhile, the Digital Freedom Fund PAC, another crypto-aligned group established in July, has yet to report any official contributions or spending.

Despite the elections not being until 2026, several early races have already seen significant crypto-financed campaigns, such as Democrat James Walkinshaw’s victory in Virginia’s 11th congressional district, bolstered by over $1 million from the Protect Progress PAC, an affiliate of Fairshake.

The evolving role of cryptocurrency in U.S. political funding illustrates the increasing influence of blockchain and digital assets on the future trajectory of crypto regulation and policy.