Jesse Spiro, head of government affairs at stablecoin issuer Tether, will chair the organization of a crypto-backed super political action committee (PAC) to “actively support candidates” in the 2026 US midterm elections and beyond.
In an announcement Wednesday, the Fellowship PAC, a committee launching in August 2025 and later claimed to have raised “over $100 million” from undisclosed backers aligned with the crypto industry, said that Spiro would become president before his first political supporters for the 2026 elections.
The PAC said it would support candidates in favor of innovation, regulatory clarity for digital assets and open markets.
“We have an opportunity to ensure that the United States remains the global hub of builders, entrepreneurs and technological advancement,” Spiro said. “Fellowship PAC is committed to supporting leaders who understand the issues and are ready to act. »
The addition of a crypto-aligned Super PAC with potentially hundreds of millions of dollars could be used to influence US elections. The Fairshake PAC, supported by Ripple Labs and Coinbase, spent more than $130 million on media buys in the 2024 elections, and reported have 193 million dollars ahead of the 2026 midterm elections.
Related: Crypto Awareness Surpasses 80% Among Young People in UK: Coinbase Survey
Camaraderie filed an organizational filing with the U.S. Federal Election Commission (FEC) on August 7 and had not reported any contributions or expenses as of December 31. Although the PAC claimed to have more than $100 million in its war chest, it was unclear at the time of publication who might be responsible for funding the committee.
Cointelegraph did not receive an immediate response to PAC’s requests for comment.
Crypto industry money may have already been a factor in US state primaries, which began in March. Although some of the industry-aligned candidates did not win their races in IllinoisThere are more than seven months until the 2026 general election, giving PACs like Fairshake, Fellowship and others the opportunity to influence voters.
A debate over stablecoin yield still overshadows a congressional crypto bill.
Tether, the issuer behind the largest stablecoin by market capitalization, USDt (USDT), will likely be affected by legislation being considered by U.S. lawmakers in the Senate.
The House of Representatives passed a digital asset market structure bill in July 2025, called the CLARITY Act, which was effectively stalled in the Senate amid debate over stablecoin rewards, tokenized stocks, ethics and other issues.
As of Wednesday, the Senate Banking Committee had not rescheduled the increase in the bill that it had postponed in January. It is unclear if or when the bill might come up for a vote in the full House.
