Crypto firms ramp political funding, signaling rising influence over U.S. elections and digital asset regulation.
Growing political spending from crypto-aligned firms is shaping the next U.S. election cycle. Financial institutions and digital asset companies are increasing their influence through targeted donations. Regulatory clarity remains a central issue driving these contributions. Recent filings show another major Wall Street player entering the field with significant backing.
Pro-Crypto Momentum Builds as Cantor Fitzgerald Joins Political Funding Wave
Cantor Fitzgerald has donated $10 million to a super PAC supporting pro-crypto candidates, as contained in a Federal Election Commission filing. The contribution went to Fellowship PAC in February, adding to the group’s growing financial base ahead of the election season.
Leadership at Cantor Fitzgerald has shifted in recent years, with Howard Lutnick’s sons now running the firm. Lutnick, who currently serves as U.S. Commerce Secretary, faced scrutiny during his Senate confirmation over ties to the crypto sector.
According to Bloomberg, close links between Cantor Fitzgerald and Tether have drawn attention since 2021. The firm acts as a custodian for Tether’s reserves, a role that places it near the center of stablecoin infrastructure. Lawmakers have raised concerns about how such relationships may influence policy decisions.
Fellowship PAC launched in September 2025 with more than $100 million in committed funding. Its stated goal is to support candidates who favor clear, predictable digital asset regulations. Earlier this month, the PAC named Jesse Spiro as chairman, strengthening ties between political advocacy and industry leadership.
Crypto Firms Deepen Political Influence as Election Funding Accelerates
Political spending tied to crypto firms has grown rapidly. During the 2024 election cycle, crypto-focused PACs raised millions to support aligned candidates. Another major group, Fairshake PAC, reported $193 million in funds as of January, showing the scale of involvement.
Additional support for Fellowship PAC has come from Anchorage Digital, which donated $1 million. A spokesperson said the firm continues to engage policymakers from both parties to push for workable digital asset rules. Anchorage operates as a federally chartered crypto bank and has consistently backed regulatory clarity.
Recent developments also connect these firms through stablecoin activity. Tether introduced its U.S.-focused stablecoin, USAT, earlier this year following new legislation. Anchorage Digital serves as the issuing partner, while Cantor Fitzgerald acts as the reserve custodian and a primary dealer.
Fellowship PAC has already begun spending, allocating over $1 million toward campaign advertising. Supported candidates include Senate contenders Nate Morris in Kentucky and Pete Ricketts in Nebraska, as well as House candidate Clay Fuller in Georgia.
Payments were directed to Nxum Group, a firm co-founded by Bo Hines, who previously held a White House advisory role on digital assets. Rising financial commitments suggest crypto policy will remain a key battleground as elections approach.
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