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 company co-founded by Tether's US CEO, Bo Hines. The PAC, which claims to be rooted in transparency, has ties to Tether, although the company has declined to confirm the connection. The expenditure was made to Nxum Group, a firm co-founded by Hines and his father, Todd Hines.
The advertising effort is in support of Georgia Republican Clay Fuller, who recently won a special election and will need campaign support for the upcoming primary and general election. The PAC's first financial disclosure indicates that it has spent money on independent expenditures, which must be handled without strategizing with the candidate's campaign. The Fellowship PAC has announced its support for candidates who advocate for emerging digital assets technology and has listed endorsements for several Republican politicians on its social media feed. However, the PAC's disclosures do not yet show a significant stockpile of contributions, despite an announcement last year that it would be established with pledges of $100 million.
An outside spokesperson for Tether stated that Tether International has no affiliation or oversight over the Fellowship PAC, but the company's US arm has ties to the PAC through its executive, Jesse Spiro, who serves as the PAC's chairman.