Odaily Planet Daily reported that the newly established super PAC, Fellowship PAC, announced on Monday that it will spend over $100 million to support candidates with pro-crypto policies. This is the latest move by the digital asset industry to overwhelm political opponents and push lawmakers to protect the industry's interests in Washington.

It is worth noting that this PAC is more aligned with the Republican Party and President Trump than Fairshake, the super PAC that currently dominates the crypto industry. According to the filing, the treasurer of Fellowship PAC is an executive of the Wall Street firm Cantor Fitzgerald, which was previously headed by Commerce Secretary Howard Lutnick.

According to two people familiar with the matter, the group's supporters are expected to include Tether, the world's largest stablecoin issuer. The foreign company recently established a US entity to provide funding to the super PAC. Tether, which has faced accusations of financial fraud and enabling platform crime, has recently been actively cultivating ties with the Trump administration, including hiring Bo Hines, Trump's crypto advisor who left office last month, and working closely with Cantor Fitzgerald, run by Lutnick's son.

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