A newly formed crypto-focused political action committee, The Fellowship PAC, has made its first major expenditure, spending $300,000 on advertising for a Republican candidate through a firm tied to Tether's US CEO, Bo Hines. The PAC, which claims to be rooted in transparency, has been linked to Tether, although the company has declined to confirm the connection.
The advertising effort is in support of Georgia Republican Clay Fuller, who recently won a special election. The payment was made to Nxum Group, a company co-founded by Hines, who is now the CEO of Tether's US arm. According to experts, 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.
The PAC's first recipient of financial support, Fuller, is an incoming Republican member of the House of Representatives and has the backing of President Donald Trump. 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 Fellowship PAC, Nxum, has contributed to other political efforts in the past, including a $1 million billboard advertising campaign 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.
The Fellowship PAC's spending is seen as a significant development in the crypto industry's efforts to influence US politics, particularly in the lead-up to the 2026 congressional midterm elections.