Jesse Spiro, head of government affairs at stablecoin issuer Tether, will chair a crypto-backed super political action committee (super PAC) that plans to “actively support candidates” in the 2026 US midterm elections and beyond.
The Fellowship PAC, which launched in August 2025 and has claimed to have raised “over $100 million” from undisclosed crypto-aligned backers, announced Wednesday that Spiro will become chair ahead of its first endorsements for the 2026 cycle. The committee said it will back candidates who favor innovation, regulatory clarity for digital assets, and open markets.
“We have an opportunity to ensure the United States remains the global hub for builders, entrepreneurs, and technological progress,” Spiro said. “Fellowship PAC is committed to supporting leaders who understand what’s at stake and are willing to act.”
A crypto-aligned Super PAC with potentially hundreds of millions of dollars could influence US elections. The Fairshake PAC, backed by Ripple Labs and Coinbase, spent more than $130 million on media buys in the 2024 elections and reported having $193 million ahead of the 2026 midterms.
Fellowship filed a statement of organization with the Federal Election Commission (FEC) on Aug. 7 and had reported no contributions or expenditures as of Dec. 31. Although the PAC claims more than $100 million in its war chest, the identities of its funders were not disclosed at the time of publication.
Cointelegraph did not receive an immediate response to requests for comment from the PAC.
Crypto industry money may already have played a role in state primaries that began in March. While some industry-aligned candidates lost races in Illinois, there are more than seven months until the 2026 general election, giving PACs like Fairshake and Fellowship time to influence voters.
A debate over stablecoin yield continues to shadow congressional crypto legislation. Tether, issuer of the largest stablecoin by market capitalization, USDt (USDT), could be affected by measures under consideration in the Senate. The House passed a digital asset market structure bill in July 2025 called the CLARITY Act, but the Senate has stalled over issues including stablecoin rewards, tokenized equities, and ethics.
As of Wednesday, the Senate Banking Committee had not rescheduled a markup it postponed in January, and it is unclear if or when the bill might reach the full chamber for a vote.
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