A newly formed crypto-focused political action committee, Fellowship PAC, has launched with $11 million in funding and has already allocated $3 million for advertising services through Nxum Group, a firm co-founded by Tether US CEO Bo Hines. According to recent Federal Election Commission filings, the PAC's initial funding came from Cantor Fitzgerald, which contributed $10 million, and Anchorage Digital, which provided $1 million. The super PAC aims to support Republican candidates in congressional and gubernatorial races.
Nxum Group, which has limited experience in serving PACs, has received $3 million in disbursements for advertising services. The PAC's treasurer is an executive at Cantor Fitzgerald, and its chairman is a senior executive at Tether.
The committee has so far devoted $300,000 to support Clay Fuller, $850,000 to back Nate Morris, and $350,000 to support incumbent Nebraska Senator Pete Ricketts. Anchorage Digital views its contribution as an investment in the US crypto policy process, stating it is part of its broader approach to advancing regulatory clarity for digital assets in the United States.