A new crypto-focused initiative has officially been announced in the U.S. capital, Washington DC. Dubbed the Fellowship PAC, this initiative has been registered as an independent expenditure-only committee that aims to support pro-crypto political candidates in the U.S.
The Fellowship PAC, as per an official announcement, brings a fund pool of $100 million to support crypto-friendly policy overhaul.
“The PAC will focus on supporting candidates committed to transparent and predictable rules for digital assets and ensuring that the innovation economy reflects American values of openness, fairness, and opportunity,” the official handle of the initiative shared on X.
The documentation work around this initiative had been going on since August. An official registration of the initiative, dated August 7, showed its filing with the Federal Election Commission.
As reported by Decrypt, the Fellowship PAC has merely completed its registration document so far. So far, the discrepancy between the pledged funds and details on where the funding is coming for — raises questions on the initiative’s authenticity for the time being.
Its official filing also does not mention the creators of the initiative. Other information about the contributors to the fund as well as its expenditure strategy also remains unknown.
For now, more details about Fellowship PAC remain awaited.