A newly formed political action committee, The Fellowship PAC, has disclosed its first expenditure, allocating $300,000 to Nxum Group, a firm co-founded by Bo Hines, the current CEO of Tether's US operations and a former advisor to President Donald Trump. This development marks the PAC's initial foray into the 2026 congressional midterm elections. The Fellowship PAC had previously been linked to Tether, although the company had declined to confirm this connection.

Recently, the PAC appointed Jesse Spiro, a Tether US executive, as its chairman. The advertising purchase was made on behalf of Republican candidate Clay Fuller, who is running for a seat in the House of Representatives. According to Michael Beckel, an expert at the political reform organization Issue One, 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 disclosures do not yet show a significant accumulation of contributions, despite an earlier announcement that it would be established with $100 million in pledges.

An outside spokesperson for Tether stated that Tether International has no affiliation or oversight over the Fellowship PAC. The PAC's endorsements and financial support are focused on candidates who advocate for emerging digital assets technology, including Republican politicians seeking House and Senate seats.

The money spent by the Fellowship super PAC was an independent expenditure, meaning it was handled without coordination with Fuller's campaign. The firm paid by the Fellowship PAC, Nxum, was co-founded by Bo Hines, who later became the CEO of Tether US. It is unclear whether Hines still has financial ties to Nxum.

The PAC's treasurer, Mitchell Nobel, is an executive at Cantor Fitzgerald, a firm that manages assets for Tether's global operation. When the Fellowship PAC was announced, it was presented as a transparent and trustworthy entity, aiming to support the broader crypto ecosystem.

However, the PAC's current activities and funding sources are not yet fully transparent. The US midterm elections are underway, and the crypto industry may need to establish relationships with lawmakers from both parties to influence future legislation.