A newly established political action committee, The Fellowship PAC, has made its first financial contribution, with $300,000 going towards advertising for Republican candidate Clay Fuller through Nxum Group, a firm co-founded by Tether US CEO Bo Hines. The PAC, which claims to be transparent, has not disclosed its funding sources, but its connection to Tether has been reported since its inception. The advertising expenditure was made ahead of the 2026 congressional midterm elections, with the PAC supporting Fuller, an incoming Republican member of the House of Representatives. The PAC's first financial activity has raised questions about potential self-dealing, as Hines is a co-founder of Nxum Group.
According to Michael Beckel, a political reform expert, there is no blanket prohibition on self-dealing in political committees, but services must be provided at fair market value. The Fellowship PAC's disclosures do not currently show a significant stockpile of contributions, despite an initial announcement that it would be established with $100 million in pledges. The PAC's activity has sparked interest in its potential influence on the US midterm elections and the crypto industry's legislative efforts.