A recently established crypto-focused political action committee, Fellowship PAC, has launched with an $11 million investment, booking $3 million in advertising services through Nxum Group, a company co-founded by Tether US CEO Bo Hines. According to Federal Election Commission filings, the super PAC has garnered $10 million from Cantor Fitzgerald and $1 million from Anchorage Digital, with its initial $3 million expenditure on political advertising allocated to Nxum Group. The PAC's primary funding source, Cantor Fitzgerald, handles Tether's stablecoin reserves, while its chairman is a senior Tether executive.
The committee has dedicated $300,000 to support Clay Fuller, $850,000 to back Nate Morris, and $350,000 to support Pete Ricketts, as per Federal Election Commission filings. Nxum Group has received $3 million in disbursements for advertising, with its primary prior engagement being a $1 million donation to MAGA Inc. in 2024.
Anchorage Digital views its contribution as an investment in the U.S. crypto policy process, aiming to advance regulatory clarity for digital assets.