What is the Crypto PAC Fellowship and what did it disclose?

Fellowship is a crypto-aligned political action committee (PAC) that disclosed $11 million in new funding in a US Federal Election Commission filing. The contributions included $10 million from Cantor Fitzgerald and $1 million from Anchorage Digital. The PAC is linked to crypto policy advocacy and election spending.

Who is funding Fellowship PAC?

The main disclosed backers are Cantor Fitzgerald and Anchorage Digital, both major players in finance and crypto infrastructure. Cantor contributed the bulk with $10 million, while Anchorage added $1 million. These contributions suggest growing institutional involvement in crypto-related political lobbying.

How much has Fellowship PAC spent so far?

Fellowship reported spending around $3 million on issue advocacy advertising through Nxum Group. It also disclosed an additional $1.5 million in media buys supporting Republican candidates in key US races. This shows active deployment of funds rather than just capital accumulation.

What is Nxum Group and why does it matter?

Nxum Group is a marketing firm co-founded by Bo Hines, who is also tied to Tether’s policy efforts. Fellowship paying this firm raises questions about overlapping interests between crypto companies and political campaigning infrastructure.

Why is crypto money flowing into US politics again?

The crypto industry previously spent heavily during the 2024 election cycle to support pro-crypto candidates. With control of Congress still competitive, firms appear to be repeating that strategy. The goal is likely to influence regulation, especially around stablecoins, DeFi, and digital asset policy.

What did Fellowship initially claim about its funding?

At launch, Fellowship claimed it had access to over $100 million from crypto-aligned backers. However, earlier filings showed little disclosed funding before 2026. This gap suggests either delayed reporting or previously undisclosed contributors.

How could this affect crypto regulation in the US?

Increased political spending by crypto firms could shape legislation in their favour, especially around taxation, stablecoins, and market structure. If successful, this could reduce regulatory uncertainty. However, outcomes depend on election results and policymaker priorities.

What are the risks of crypto-backed PAC influence?

One risk is regulatory capture, where policy decisions favour industry players over broader market stability or consumer protection. There is also reputational risk if political involvement leads to backlash. This is an ongoing debate, not a settled outcome.

Crypto PAC Fellowship reveals $11M backing

Written by Liezl GambePublished Apr. 16 2026

Crypto-focused political action committee Fellowship disclosed $11 million in contributions from financial institutions in a filing with the US Federal Election Commission.

The PAC reported receiving $10 million from Cantor Fitzgerald and $1 million from Anchor Labs, linked to Anchorage Digital, alongside $3 million in advertising spend.

The advertising was conducted through Nxum Group, a firm co-founded by Bo Hines, highlighting close ties between the PAC and crypto industry leadership.

Fellowship had previously claimed access to more than $100 million in backing at launch, though earlier filings showed limited disclosed contributions before 2026.

The spending reflects a broader trend of crypto-backed PACs deploying significant capital in US elections to support candidates viewed as favourable to the industry.

The committee also reported $1.5 million in media spending backing Republican candidates in Georgia, Nebraska and Kentucky ahead of upcoming primaries.

The PAC’s treasurer, Mitchell Nobel, also serves as Cantor Fitzgerald’s head of digital asset strategy, underscoring overlapping roles between finance and crypto policy efforts.