A newly formed crypto-focused political action committee, The Fellowship PAC, has disclosed its first financial contribution ahead of the 2026 US congressional midterm elections. The PAC spent $300,000 on advertising for Republican candidate Clay Fuller through Nxum Group, a firm co-founded by Tether US CEO Bo Hines. The Fellowship PAC, which claims to be rooted in transparency, has not responded to questions about its formation, funding, or the payment that may benefit Hines and his relative.

According to campaign finance expert Michael Beckel, setting up a super PAC and paying for services is not against US campaign finance rules as long as the services are provided at fair market value. The PAC's advertising effort for Fuller is not yet clear, but the funds were spent just as Fuller won his special election. Despite an announcement last year that the PAC would be established with pledges of $100 million, its current accounts still show zero contributions.

An outside spokesperson for Tether stated that Tether International has no affiliation or oversight over the Fellowship PAC. The PAC became active again this month, announcing its chairman as Jesse Spiro, vice president of regulatory affairs for Tether's US arm. The Fellowship PAC says it will support candidates who recognize the importance of fostering economic growth and reinforcing the US as a global leader in next-generation financial infrastructure. The PAC's first recipient of financial support, Fuller, is an incoming Republican member of the House of Representatives.

The money spent by the Fellowship super PAC was an independent expenditure, meaning it had to be handled without strategizing with Fuller's campaign. The firm paid by the Fellowship PAC, Nxum, was co-founded by Hines, who worked as a leading advisor to President Trump before joining Tether US. There is no federal record of Nxum as a regular service provider for additional political efforts. The PAC's treasurer, Mitchell Nobel, is an executive at Cantor Fitzgerald, a firm that manages assets for Tether's global operation.