A newly formed crypto-focused super PAC, The Fellowship PAC, has made its first major expenditure, spending $300,000 on advertising for a Republican candidate through a firm co-founded by Tether's US CEO, Bo Hines. The PAC, which has ties to Tether, has stated its goal of supporting candidates who advocate for emerging digital assets technology. The advertisement was purchased through Nxum Group, a company co-founded by Hines, who previously served as a crypto adviser to former President Donald Trump. The Fellowship PAC's first financial disclosure has raised questions about potential self-dealing, as the payment may benefit Hines and his relative.
However, according to campaign finance experts, 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 first recipient of financial support is Republican candidate Clay Fuller, who recently won a special election in Georgia.
Fuller has not publicly stated his position on crypto, but has received backing from Trump. The Fellowship PAC has announced its intention to 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 disclosures do not yet show a significant stockpile of contributions, despite an initial announcement that it would be established with pledges of $100 million. An outside spokesperson for Tether has stated that Tether International has no affiliation or oversight over the Fellowship PAC. The PAC's treasurer, Mitchell Nobel, is an executive at Cantor Fitzgerald, a firm that manages assets for Tether's global operation.
The Fellowship PAC's activities have raised questions about the potential influence of the crypto industry on US politics, particularly in the lead-up to the 2026 congressional midterm elections.