Crypto PAC spends $3M via Tether-linked firm

Crypto industry-backed Fellowship PAC has deployed $3 million in political advertising through a firm linked to Tether’s US leadership, as it ramps up support for pro-crypto candidates.

The political action committee has raised $11 million so far, including $10 million from Cantor Fitzgerald and $1 million from Anchorage Digital, according to regulatory filings.

Advertising spend has been directed to Nxum Group, a company co-founded by Bo Hines, who previously served as a crypto adviser to Donald Trump.

The PAC has backed several Republican candidates, including congressional and Senate races, as part of a broader push to influence US crypto policy.

Anchorage Digital said its contribution reflects a strategy to support regulatory clarity, stating it is part of a “broader, bipartisan approach” to advancing digital asset rules.

Fellowship PAC was initially expected to raise up to $100 million, though current filings show a smaller early funding base and concentrated spending on advertising.

The development highlights growing ties between crypto firms and US political financing, while raising questions about governance, influence, and regulatory boundaries.