A political group focused on supporting crypto-friendly lawmakers has launched with financial backing of $100 million.
Known as The Fellowship Political Action Committee (PAC), the organization announced its formation on X on September 15.
The funds will be used to back candidates who support digital assets and innovation, especially in alignment with the Trump administration’s stance on crypto regulation.
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The PAC stated that it wants to help shape a legal environment that supports businesses and developers in the crypto industry. One of its stated goals is to prevent skilled professionals and startups from relocating overseas due to unclear or restrictive regulations.
In its announcement, the Fellowship PAC described itself as a bridge between tech leaders, policymakers, and the general public. The group emphasized that building trust and ensuring transparency are integral to its mission.
According to their post, they view this launch as the start of a long-term effort.
This new PAC joins a number of similar groups that have emerged in recent years, which are aiming to influence digital asset policy in Washington. It plans to play a role in congressional races, especially in the House of Representatives and the Senate.
David Bailey, founder of Bitcoin Magazine and BTC Inc., announced plans to raise $200 million for a political fund focused on supporting Bitcoin
