The hybrid political action committee “Blockchain Leadership Fund,” co-founded by Chainlink Labs and Anchorage Digital in March, announced on May 22 its endorsement of 10 candidates for the 2026 U.S. midterm elections, saying it supports “candidates committed to advancing U.S. digital asset and blockchain policy.”
Endorsed candidates list: 7 Republicans, 3 Democrats
The four Senate candidates endorsed by the Blockchain Leadership Fund include Republicans running for the federal Senate seat in Alabama: Barry Moore (advancing to a runoff), Republican Kurt Alme running for Montana, Republican Jon Hurst running for Ohio, and Democrat Angie Craig running for Minnesota. The six House candidates include Republicans Houston Gaines (Georgia’s 10th district), Jim Kingston (Georgia’s 1st district), and Jon Bonk (Texas’s 38th district), along with Democrats Adrian Boafo (Maryland), Christian Menefee (Texas), and Don Davis (North Carolina). Kingston and Gaines won their respective Georgia Republican primaries on Tuesday. The Blockchain Leadership Fund said it may announce additional candidate endorsements before the November midterm election.
Funding scale and broad spending by Fairshake-aligned PACs
As of Thursday, the Blockchain Leadership Fund had only $175k in funds, but multiple PACs related to the Fairshake coalition have投入 larger amounts of money on the same batch of candidates. The “Defend American Jobs PAC” spent $8.5 million on media expenditures, including about $350k to support Jon Bonk’s Texas campaign. The “Protect Progress” PAC spent more than $4.1 million to support Menefee in the Texas runoff and more than $2 million to support Boafo’s campaign in Maryland.
Fellowship PAC puts money into Texas Senate race; Trump announces support for Paxton
Fellowship PAC, in a report to the FEC on Wednesday, said it will spend $500k in media expenditures to support Texas Attorney General Ken Paxton in his bid for the U.S. Senate against incumbent John Cornyn in the runoff. Trump announced support for Paxton on Truth Social on Tuesday. Earlier, Fellowship PAC withdrew media funding for Paxton after pressure from Republican leaders on Commerce Secretary Howard Lutnick, who is associated with Cantor Fitzgerald, and then re-injected funding. James Talarico, the winner of the Texas Democratic primary, will face the Republican runoff winner in November.
Frequently asked questions
What type of PAC is the Blockchain Leadership Fund?
The Blockchain Leadership Fund is a hybrid PAC that allows direct donations to candidates as well as independent expenditures. It was co-founded by Chainlink Labs and Anchorage Digital in March 2026. As of May 22, FEC filings show it has $175k in funding, with Anchorage Digital contributing $100k and Chainlink Labs contributing $75k.
Why did Fellowship PAC withdraw support and then re-support Paxton?
Fellowship PAC previously withdrew its media funding for Paxton after pressure from Republican leaders on Commerce Secretary Howard Lutnick, who is associated with Cantor Fitzgerald. On Wednesday, Fellowship PAC again reported to the FEC that it would put $500k toward supporting Paxton, without issuing any official explanation for the change.
How did the candidates endorsed by the Blockchain Leadership Fund perform in their respective primaries?
Kingston and Gaines won the Georgia Republican primaries on Tuesday. Barry Moore, running for the federal Senate seat in Alabama, failed to secure a majority of votes and will advance to a runoff. The primary timelines for the other candidates have not yet been determined.
