A newly formed super PAC, The Fellowship, has made its first financial contribution ahead of the 2026 US congressional midterm elections, with a $300,000 expenditure going to Nxum Group, a firm co-founded by Bo Hines, who now serves as the CEO of Tether US. This development comes after The Fellowship, which claims to be rooted in transparency, had been quiet until recently, when it named Tether US executive Jesse Spiro as its chairman. The PAC's advertising effort is in support of Georgia Republican Clay Fuller, with the funds being used for his primary election campaign.
Although The Fellowship has not yet demonstrated a significant stockpile of contributions, it has announced its backing for several Republican candidates seeking House and Senate seats. The PAC's first financial contribution has raised questions about potential self-dealing, as Nxum Group was co-founded by Hines, who is now the CEO of Tether US.
According to Michael Beckel, an expert at Issue One, a political reform organization, there is no blanket prohibition on self-dealing in political committees, as long as services are provided at fair market value. The Fellowship's activities have sparked interest in the crypto community, particularly given its ties to Tether and its potential to influence future crypto legislation. With the US midterm elections already underway, The Fellowship's efforts may still have a significant impact, especially if it decides to expand its support to candidates from both parties.