The cryptocurrency sector’s new player, Fellowship PAC, has announced its first major financial intervention ahead of the 2026 US midterm elections. The organization made a substantial $300,000 payment to a company co-founded by Bo Hines, a former crypto advisor to ex-President Donald Trump and now CEO of Tether US.
Fellowship PAC’s Ties to Tether and Political Ambitions
Tether US operates as the American arm of the global stablecoin powerhouse, distinct from Tether International’s activities. After leaving the political arena, Bo Hines assumed leadership at Tether US. When asked, a Tether spokesperson clarified there is no direct relationship or oversight between Tether and Fellowship PAC, adding that all PAC-related inquiries should be addressed to the organization itself, while withholding further details.
Fellowship PAC, which reactivated earlier this month, appointed Spiro, Tether US’s Vice President for Regulatory Affairs, as its new chair. The PAC also publicized its support on X (formerly Twitter) for a slate of Republican candidates in the House, Senate, and South Carolina’s gubernatorial race, including Alan Wilson. The PAC has stated its mission is to endorse candidates who support the growth of digital asset technology.
In a statement, Fellowship PAC affirmed its intention to back leaders who will consolidate the United States’ global leadership in next-generation financial infrastructure and spur economic growth.
Initial Political Spending and Electoral Strategy
Fellowship PAC’s inaugural donation targeted Republican candidate Fuller, a newcomer to the US House of Representatives from Georgia. Fuller recently took over the seat in a special election, succeeding the polarizing Marjorie Taylor Greene. Although not yet an official member of Fellowship PAC’s support list, Fuller is seen as likely to need further assistance in upcoming primaries and the general election. The donation came via independent expenditure, so there was no direct coordination with Fuller’s campaign team.
To date, Fuller has not made any public statements on cryptocurrencies and has yet to be recognized by the industry-wide Stand With Crypto initiative. However, former President Donald Trump offered praise for Fuller in a post on Truth Social.
Mitchell Nobel, treasurer for Fellowship PAC and the official overseeing these recent expenditures, holds a senior position at Cantor Fitzgerald, which manages Tether’s global asset holdings. Howard Lutnick, who served as Trump’s Commerce Secretary, is also part of the firm’s leadership.
Launched only last year, Fellowship PAC seeks to distinguish itself from previous organizations by emphasizing “transparency and trust.” At its founding, it pledged to work for the benefit of the cryptocurrency ecosystem as a whole, rather than favoring individual interests.
Tether US, also a newly established entity, claims a stablecoin (USAT) market cap that has just reached $37 million. This moderate scale suggests Fellowship PAC’s available funding for political influence remains limited.
While observers sometimes dismiss super PACs as overhyped or lacking impact, recent multi-million dollar campaigns by the industry have caught the attention of lawmakers, underscoring that these expenditures are now being monitored closely.
Compared to giants like Fairshake, which has raised significantly more, Fellowship PAC’s total contributions so far remain modest.
With the midterm elections rapidly approaching, many critical primaries have either concluded or are reaching their final stages. In this context, Fairshake has already deployed millions of dollars in campaign spending.
If Democrats reclaim the majority in the House, committee agendas are expected to shift towards challenging Trump-era policies and investigating executive actions. While the Senate outlook increasingly favors Democrats, industry experts note that bipartisan support will be crucial for the digital asset sector moving forward.
For Fellowship PAC, the congressional campaign is just beginning. The Republican candidates it backs occupy strongholds, but a win could shift the political landscape in Congress next year, introducing new dynamics for crypto policy debates.
