New $100M PAC Backs Pro-Crypto Politicians

A new independent super Political Action Committee (PAC), The Fellowship PAC, has emerged with a substantial $100 million fund. Its goal is to support political candidates who are in favor of cryptocurrency and innovation.

The PAC is registered with the Federal Election Committee and aims to promote regulatory clarity, transparency, and entrepreneurship in the digital asset space. The initiative seeks to build on past momentum to position the U.S. as a global leader in crypto.

While the Winklevoss twins (Gemini) and Coinbase have been mentioned as potential backers, there is no official confirmation at this time.

Pro-Crypto PACs on the Rise

This new PAC joins a growing number of pro-crypto political action groups.

• Earlier, the Winklevoss twins contributed significantly to a Republican-aligned PAC supporting pro-digital asset initiatives.
• Angel investor Naval Ravikant also joined the Winklevoss twins in support of the pro-Trump Digital Freedom Fund PAC.
• Crypto firms like Ripple, Coinbase, Kraken, Circle, and Robinhood reportedly invested heavily in a previous inaugural fund.

Super PACs focused on cryptocurrency in the U.S. have already raised considerable funds to support crypto policy and elections. Fairshake PAC, for instance, had raised significant funds for an election cycle.

Key Takeaways:

• A new $100 million PAC, The Fellowship PAC, is launching to support pro-crypto politicians.
• The PAC aims to establish the U.S. as a global hub for digital assets.
• Pro-crypto PACs are becoming increasingly prevalent in the political landscape.
• Several prominent figures and crypto companies are contributing to these initiatives.

Note: This is a developing story. We are awaiting confirmation from Coinbase and Gemini regarding their involvement with The Fellowship PAC and will update this article as soon as we have new information.