A recently formed cryptocurrency-focused political action committee, Fellowship PAC, has begun its operations with an $11 million investment and has allocated $3 million for advertising services through Nxum Group, a firm co-founded by Tether US CEO Bo Hines. According to filings with the Federal Election Commission, the super PAC has received $10 million from Cantor Fitzgerald and $1 million from Anchorage Digital, with the majority of its funding coming from the New York-based financial services giant. The PAC's advertising efforts are focused on supporting Republican candidates for Congress and a governorship, with $300,000 devoted to Clay Fuller, $850,000 to Nate Morris, and $350,000 to Pete Ricketts. Nxum Group, which has received $3 million in disbursements for advertising, was founded by Hines, his father, and another partner, and has primarily been involved in donating $1 million in billboard ads to MAGA Inc.
in 2024. The formation of Fellowship PAC was announced last year, with a pledged backing of $100 million and a commitment to champion transparency in supporting pro-crypto candidates. Anchorage Digital has described its contribution as an investment in the U.S.
crypto policy process, aiming to advance regulatory clarity for digital assets in the United States.