A recently established super PAC, called The Fellowship PAC, has disclosed its first expenditure in a federal filing, revealing that it spent $300,000 on advertising for a Republican candidate, Clay Fuller, through Nxum Group, a firm co-founded by Bo Hines, the chief executive of Tether's US arm. The PAC, which claims to be 'rooted in transparency', has been linked to Tether, although the company has declined to confirm the connection. The expenditure was made despite the PAC's current accounts showing no contributions, contrary to an announcement last year that it would be established with pledges of $100 million. The payment to Nxum Group, which was co-founded by Hines and his father, Todd Hines, may raise questions about potential self-dealing, although experts note that such practices are not necessarily prohibited under US campaign finance rules, as long as services are provided at fair market value.
