The Fellowship PAC, which has been linked to Tether, has disclosed its first contribution ahead of the 2026 congressional midterm elections. The $300,000 expenditure was made to Nxum Group, a company co-founded by Bo Hines, who is now the chief executive of Tether's US arm.
The PAC, which claims to be 'rooted in transparency', has not responded to questions about its formation and funding, nor about the payment that may benefit Hines and his relative. The advertising effort is on behalf of House of Representatives candidate Clay Fuller, a Republican from Georgia. The PAC's disclosures do not yet show a significant stockpile of contributions to back other candidates, despite an announcement last year that it would be established with pledges of $100 million.
An outside spokesperson for Tether said that Tether International has no affiliation or oversight over Fellowship PAC, but did not respond to additional questions about Tether US. The PAC's first recipient of financial support, Fuller, is an incoming Republican member of the House of Representatives who has not broadcast a position on crypto. The money spent by the Fellowship super PAC was an independent expenditure, meaning it had to be handled without strategizing with Fuller's campaign. The firm paid by Fellowship PAC, Nxum, was co-founded by Hines, who was a leading adviser to President Donald Trump on crypto legislative advances.
The PAC's treasurer, Mitchell Nobel, is an executive at Cantor Fitzgerald, a firm that manages assets for Tether's global operation. When Fellowship was announced as a new PAC last year, it was presented as a contrast to previous political engagement, aiming to help the broader crypto ecosystem and not 'narrow or individual interests'. The PAC's spending is still a drop in the bucket compared to the receipts of the leading crypto super PAC, Fairshake, which has expended millions in the early contests.