The Fellowship PAC has recently revealed that it has invested $1.75 million to support Texas Attorney General Ken Paxton in his campaign against incumbent Senator John Cornyn in an upcoming May runoff.

Fellowship PAC

The PAC, which is supported by those in the crypto space, has disclosed spending over $3 million on advertisements linked to various Senate and House races, primarily benefiting a Republican candidate in Texas. According to a filing submitted to the Federal Election Commission (FEC), Fellowship PAC allocated a substantial amount to Paxton’s campaign, set against Cornyn in a critical runoff designed to select the party’s nominee for the 2026 US Senate race.

Additionally, the PAC has strategically directed $350,000 each toward candidates Mike Collins in Georgia and Barry Moore in Alabama. Furthermore, it allocated varying sums for Blake Miguez and Julia Letlow in Louisiana’s House and Senate races, respectively, all facilitated by the Nxum Group, a marketing firm co-founded by former White House crypto adviser Bo Hines.

Fellowship PAC began operations in September, boasting over $100 million from undisclosed sources in the crypto industry, although it has reported only $11 million in contributions to the FEC, leaving many potential investors untracked.

Such crypto-driven PACs like Fellowship are poised to make an impact on the 2026 US midterm elections by advocating for candidates they deem favorable to the crypto domain. Previous spending reports indicate that Fairshake and its associates alone expended over $131 million in 2024, potentially swaying voters in crucial battleground states.

Related: Texas Lt. Gov. calls for study of crypto, prediction markets

Ken Paxton’s tenure as Attorney General has been marred by allegations of corruption, prompting an impeachment that he narrowly avoided after acquittal by the Texas Senate. As the electoral contest intensifies, either Paxton or Cornyn is expected to compete against Democrat James Talarico in the election scheduled for November.