New Crypto Super PAC Garners $100 Million to Help Push Industry Agenda

A new crypto-focused political action committee (PAC) called the Fellowship PAC has raised $100 million to support lawmakers who will advance the crypto industry's agenda in Washington. The PAC aims to influence the political landscape and push for policies favorable to the cryptocurrency sector. The creation of the Fellowship PAC reflects the growing influence and ambition of the crypto industry to shape the regulatory environment. The PAC will likely focus on supporting candidates who are sympathetic to the industry's concerns, such as opposing strict crypto regulations or advocating for the wider adoption of digital assets. The $100 million fundraising haul underscores the industry's financial resources and its determination to have a significant impact on the political process. However, the move has also raised concerns about the potential for the crypto industry to exert undue influence on policymakers and the potential risks associated with the increasing involvement of the sector in the political arena.