Fellowship PAC, one of the new players in the cryptocurrency industry, announced its first financial support before the 2026 US Congressional midterm elections. It was stated that this total expenditure of 300 thousand dollars was sent to a company co-founded by Bo Hines, who was the crypto advisor to former US President Donald Trump and is today the CEO of Tether US.
Relationship Between Tether and Fellowship PAC
Tether US, unlike Tether International, carries out stablecoin activities in America. Bo Hines became the head of Tether US after his background in politics. Tether’s spokesperson stated that they do not have a direct relationship or supervision with Fellowship PAC and stated that the PAC is authorized in questions specific to Tether US, but refrained from giving details.
Fellowship PAC became active again this month. In this process, Spiro, Tether US’s vice president of regulatory affairs, was appointed as the chairman of the PAC. Also during this period, in the support list published on The PAC announced that its goal is to highlight candidates who support the development of digital asset technology.
In the statement made by Fellowship PAC, it was stated that support will be given to leaders who will reinforce the US’s global leadership in the new generation financial infrastructure and promote economic growth.
Initial Spending and Election Strategy
Fellowship PAC’s first financial aid was sent to Fuller, the newly elected Republican candidate for the House of Representatives from Georgia. Fuller took the seat in the midterm election to replace the controversial Marjorie Taylor Greene. Although it is not yet on the Fellowship’s official support list, it is stated that it will need support in the upcoming primary and general elections. Since this aid from the Fellowship was not provided directly but through independent expenditure, coordination with Fuller’s campaign strategies was not ensured.
Fuller does not appear to have issued an official opinion on cryptocurrencies and has not received any notes from the industry’s Stand With Crypto initiative. However, Donald Trump spoke positively of Fuller in his message on Truth Social.
Mitchell Nobel, the treasurer who signed off on the expenses of the Fellowship PAC, holds a senior position at Cantor Fitzgerald, which carries out Tether’s global asset management. In the company’s top management, Trump’s former commerce secretary Howard Lutnick stands out.
Founded last year, Fellowship PAC stated that it differed from previous similar structures with its emphasis on “transparency and trust”. He announced that he aims to provide holistic benefit to the crypto ecosystem and will work with an understanding beyond individual interests.
The market size of USAT, the stablecoin of Tether US, which was established recently, has just reached 37 million dollars. This level of presence creates the impression that the scale of PAC funds is also limited.
Although industry observers have occasionally noted that super PACs stand out as a threat and may not have a real impact, the industry’s recent large spending is being followed seriously by lawmakers.
Fellowship PAC’s total spending to date is significantly lower than the funds raised by strong rival Fairshake.
As midterm elections are rapidly approaching in the United States, many critical primaries have been completed or are about to be concluded. Fairshake used millions of dollars of resources in this process.
If the House of Representatives wins a Democratic majority, the committees’ agenda shifts to questioning Trump’s policies and examining his administration practices. As the tide turns in favor of the Democrats in the Senate race, it looks like the crypto industry will need to find support from both parties.
For Fellowship PAC, the Congressional race is just at the beginning. The Republican candidates they support are in politically strong districts. But if they win, they could face a different dynamic in Congress next year.
