A new political action committee, the Fellowship PAC, has disclosed its first financial contribution ahead of the 2026 US congressional midterm elections. The $300,000 expenditure was made to Nxum Group, a company co-founded by Bo Hines, who serves as the chief executive of Tether's US arm and previously worked as an adviser to former President Donald Trump. The Fellowship PAC, which claims to be 'rooted in transparency,' has been linked to Tether, although the company has not confirmed the connection. The PAC's first ad buy was made on behalf of Republican candidate Clay Fuller, who recently won a special election in Georgia.
The expenditure was made through Nxum Group, which was co-founded by Hines and his father, Todd Hines. According to Michael Beckel, a political reform expert, there is no blanket prohibition on self-dealing in political committees, as long as services are provided at fair market value.
The Fellowship PAC's disclosures do not yet show a significant stockpile of contributions, despite an announcement last year that it would be established with pledges of $100 million. An outside spokesperson for Tether stated that Tether International has no affiliation or oversight over the Fellowship PAC. The PAC's first recipient of financial support, Fuller, is an incoming Republican member of the House of Representatives and has not publicly announced 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 the Fellowship PAC, Nxum, has no federal record as a regular service provider for additional political efforts, but it did contribute billboard advertising valued at $1 million for MAGA Inc. in support of Trump in 2024. The PAC's treasurer, Mitchell Nobel, is an executive at Cantor Fitzgerald, a firm that manages assets for Tether's global operation.
When the Fellowship PAC was announced last year, it was presented as a contrast to previous political engagement efforts, with a focus on transparency and trust. The PAC's relatively small expenditure so far is a drop in the bucket compared to the receipts of the leading crypto super PAC, Fairshake, which has expended millions in the early contests.