A newly formed super PAC, The Fellowship, has made its first major expenditure, spending $300,000 on advertising for Republican House candidate Clay Fuller through Nxum Group, a firm co-founded by Tether's US CEO, Bo Hines. The move marks the first significant activity from the PAC, which has been linked to Tether and aims to support candidates who advocate for the growth of digital assets. The expenditure has raised questions about potential self-dealing, although experts note that such practices are not necessarily prohibited under US campaign finance rules.
The Fellowship PAC has endorsed several Republican candidates and claims to be committed to transparency, despite its lack of disclosure about its funding and activities. As the US midterm elections approach, the PAC's actions are being closely watched, particularly given its ties to Tether and the crypto industry.