Fellowship PAC Spent $1.75M on Ken Paxton Ads in Texas Runoff
Fellowship PAC reported $1.75 million spent on ads supporting Texas Attorney General Ken Paxton in the May 26 GOP runoff against Sen. John Cornyn.
The crypto-aligned Fellowship PAC, led by Tether’s head of government affairs, disclosed in a Tuesday filing with the Federal Election Commission that it spent $1.75 million on advertising to support Texas Attorney General Ken Paxton in the May 26 Republican runoff with Sen. John Cornyn. The PAC reported total ad expenditures exceeding $3 million on U.S. Senate and House races.
The FEC filing shows additional expenditures of $350,000 for Mike Collins in Georgia, $350,000 for Barry Moore in Alabama, and payments of $250,000 and $350,000 for Blake Miguez and Julia Letlow in Louisiana races. The filing indicates all ad buys were routed through the Nxum Group, a marketing firm co-founded by former White House crypto adviser and Tether US CEO Bo Hines.
Fellowship launched in September and initially claimed more than $100 million from undisclosed investors aligned with the crypto industry. The PAC has reported about $11 million in contributions to the FEC; the filings and public records do not identify backers directly linked to crypto firms or named investors.
The filing is among examples of increased political spending by crypto-aligned committees ahead of the 2026 midterm cycle. Another crypto-aligned group reported more than $131 million in spending in 2024.
Paxton faced corruption allegations that led to impeachment by the Texas House of Representatives in 2023; the Texas Senate later acquitted him. The winner of the May 26 GOP runoff will be the Republican nominee and is expected to face Democratic candidate James Talarico in the November U.S. Senate election.
The FEC filing offers a record of how new political committees tied to the crypto sector are buying media in key primaries and runoffs. Prediction market platform Kalshi announced penalties for three candidates found to have traded on their own races. One Texas candidate, Ezekiel Enriquez, purchased less than $100 in contracts related to his candidacy; Kalshi suspended Enriquez from the platform for five years and imposed a $784.20 fine.
The material on GNcrypto is intended solely for informational use and must not be regarded as financial advice. We make every effort to keep the content accurate and current, but we cannot warrant its precision, completeness, or reliability. GNcrypto does not take responsibility for any mistakes, omissions, or financial losses resulting from reliance on this information. Any actions you take based on this content are done at your own risk. Always conduct independent research and seek guidance from a qualified specialist. For further details, please review our Terms, Privacy Policy and Disclaimers.
Articles by this author
