A recently established crypto industry political action committee, known as Fellowship PAC, has commenced operations with an $11 million investment and has reserved $3 million in advertising services from Nxum Group, a company founded by Tether US CEO Bo Hines. According to filings with the Federal Election Commission, the super PAC has obtained $10 million from Cantor Fitzgerald and $1 million from Anchorage Digital, with the initial $3 million in advertising expenditures going to Nxum Group.
While Fellowship PAC has been linked to Tether since its inception, the majority of its funding originated from Cantor Fitzgerald, a New York-based financial services giant that manages Tether's stablecoin reserves. A representative from Tether US was unavailable for comment, and a Cantor spokesperson declined to discuss their involvement with the super PAC. The PAC, which has not responded to requests for comment, has allocated $300,000 to support Clay Fuller, $850,000 to back Nate Morris, and $350,000 to support Pete Ricketts, as per Federal Election Commission filings. Nxum Group received $3 million in disbursements for advertising, with its primary claim to fame being a $1 million donation of billboard ads to MAGA Inc.
in 2024. Upon its formation, Fellowship PAC announced $100 million in pledged support and a commitment to championing transparency while backing pro-crypto candidates, although this level of funding has yet to materialize. Anchorage Digital, the first crypto-native bank to receive a U.S.
federal charter, described its contribution as an investment in the U.S. crypto policy process, stating that it has made a corporate contribution to Fellowship PAC as part of its bipartisan approach to advancing regulatory clarity for digital assets in the United States.