A newly formed super PAC, The Fellowship, has made its first major expenditure, spending $300,000 on advertising for a Republican candidate through a firm tied to Tether's US CEO, Bo Hines. The PAC, which claims to be committed to transparency, has been linked to Tether, although the company has not confirmed the connection.
The advertising effort is in support of Georgia Republican Clay Fuller, who recently won a special election. The payment to Nxum Group, a company co-founded by Hines, has raised questions about potential self-dealing, although experts note that such arrangements are not necessarily prohibited under US campaign finance rules. The Fellowship PAC has announced its support for candidates who advocate for emerging digital assets technology, and its chairman, Jesse Spiro, is a vice president of regulatory affairs for Tether's US arm.
The PAC's first expenditure comes after it was announced last year with pledges of $100 million, although its current accounts show no contributions. An outside spokesperson for Tether has stated that Tether International has no affiliation or oversight over the Fellowship PAC.