Top Republicans have called on Howard Lutnick, the U.S. Secretary of Commerce, to intervene and halt the political spending plans in Texas of Fellowship PAC, a crypto-focused political action committee backed by his former firm, Cantor Fitzgerald.
The PAC had previously disclosed in FEC filings its intention to spend $1.75 million to support Ken Paxton, raising concerns within the party about its involvement in a sensitive primary race. According to sources, the PAC ultimately did not run the related ads, and Republicans subsequently said the concerns have been alleviated. Fellowship PAC, which is linked to Tether, has previously stated it plans to raise $100 million for the 2026 election cycle and has so far raised approximately $11 million. (Axios)