A newly established super PAC, The Fellowship, has disclosed its first financial contribution ahead of the 2026 US midterm elections. The $300,000 expenditure was made to Nxum Group, a company co-founded by Bo Hines, who currently serves as the chief executive of Tether's US arm and previously worked as an advisor to President Donald Trump. The Fellowship PAC has been linked to Tether, although the company has not confirmed this connection. The PAC's first ad buy was made to support Republican candidate Clay Fuller, who recently won a special election in Georgia.
The payment to Nxum Group may benefit Hines, who co-founded the company with his father and another partner. According to campaign finance rules, it is not prohibited for a super PAC to pay for services from a company affiliated with its executives, as long as the services are provided at fair market value. The Fellowship PAC has announced its support for candidates who advocate for the development of emerging digital assets technology. The PAC's chairman, Jesse Spiro, is also an executive at Tether's US arm.
The company's ties to Tether have raised questions about its funding and potential conflicts of interest. The PAC has not disclosed its contributors, but its financial disclosures will eventually reveal the origins of its funds, which must come from US sources.
The Fellowship PAC's expenditure is a small fraction of the $100 million it pledged to raise, and it remains to be seen whether the PAC will fulfill its promise to support candidates who back the crypto industry.