The Fellowship PAC, a newly formed super PAC linked to Tether, has disclosed its first expenditure, with $300,000 spent on advertising for Georgia Republican Clay Fuller through Nxum Group, a firm co-founded by Bo Hines, Tether's US CEO and former adviser to President Donald Trump. The PAC, which claims to be 'rooted in transparency', has not responded to questions about its formation and funding.
The expenditure was made despite the PAC's current accounts showing no contributions, contrary to its announcement last year that it would be established with pledges of $100 million. The move has raised questions about potential self-dealing, although experts note that such practices are not prohibited under US campaign finance rules as long as services are provided at fair market value.