Crypto PAC Withdraws $1.75M Support for Texas Senate Candidate

A recent development in the US Senate election has caught attention, as a crypto-aligned political action committee (PAC) has suspended its planned advertising campaign supporting Texas Attorney General Ken Paxton.

The PAC, Fellowship, had disclosed its spending to the Federal Election Commission and had reportedly never placed the ads despite filings remaining publicly visible. This move is unusual for a crypto-backed PAC, as they typically deploy significant capital across both political parties to influence policy outcomes.

Paxton is set to face Senator John Cornyn in a May 26 Republican runoff, with the winner likely competing against Democrat James Talarico in the general election. The development comes as more than 120 crypto and blockchain groups push the Senate to advance the CLARITY Act, highlighting the growing political influence of the digital asset sector.