The crypto industry is pouring more money into one of the most closely watched Senate races in Texas. Fellowship PAC, a committee backed by Cantor Fitzgerald and Anchorage Digital, recently announced it would spend $500,000 supporting Texas Attorney General Ken Paxton in his US Senate campaign.

The race gained even more attention after Donald Trump publicly endorsed Paxton over incumbent Senator John Cornyn. With crypto-funded political groups becoming more active across the country, Texas is quickly turning into a major battleground where digital asset companies are trying to shape the future direction of regulation, finance, and political power in the United States.