A newly formed crypto-focused political action committee, The Fellowship PAC, has made its first major expenditure, spending $300,000 on advertising for Georgia Republican Clay Fuller. The payment was made to Nxum Group, a firm co-founded by Bo Hines, who currently serves as the CEO of Tether's US arm and previously worked as an advisor to former President Donald Trump. The Fellowship PAC, which claims to be rooted in transparency, has not disclosed its funding sources or responded to inquiries about the payment that may benefit Hines and his relative.
According to Michael Beckel, an expert at Issue One, a political reform organization, there is no blanket prohibition on self-dealing in political committees like The Fellowship PAC, as long as services are provided at fair market value. The PAC's first major expenditure comes ahead of the 2026 congressional midterm elections, and its activities are being closely watched due to its ties to Tether, a leading stablecoin issuer.
The Fellowship PAC has announced its support for several Republican candidates seeking House and Senate seats, as well as a candidate for governor in South Carolina, and claims to be backing advocates of emerging digital assets technology.