A newly formed super PAC, The Fellowship, has made its first major ad buy ahead of the 2026 US congressional midterm elections. The $300,000 expenditure was made with Nxum Group, a company co-founded by Bo Hines, who currently serves as the CEO of Tether's US division and previously advised President Donald Trump on crypto matters.
This move marks The Fellowship's first significant financial outlay, and it has raised questions about potential ties between the PAC and Tether, as well as the nature of the relationship between Hines and Nxum Group. According to Michael Beckel, an expert at the political reform organization Issue One, there is no blanket prohibition on self-dealing in political committees like The Fellowship, as long as services are provided at fair market value. The PAC's advertising effort is in support of Georgia Republican Clay Fuller, who recently won a special election and will require further campaign support for the upcoming primary and general election. The Fellowship has presented itself as a champion of transparency and trust, aiming to support the broader crypto ecosystem rather than individual interests.
However, the PAC's disclosures do not yet show a significant stockpile of contributions, despite an earlier announcement that it would be established with pledges of $100 million. The Tether connection has sparked interest, given the company's role in the crypto sector and its potential influence on future legislation. As the US midterm elections progress, The Fellowship's activities will be closely watched, particularly in relation to its support for Republican candidates and its potential impact on the crypto industry's legislative agenda.