Crypto-Linked Fellowship PAC Deploys Millions in Republican Campaign Ads

Fellowship PAC has launched its political campaign with $11 million in initial funding, directing a significant portion of its early spending toward advertising services provided by Nxum Group. According to Federal Election Commission filings, the super PAC is focusing its efforts on Republican candidates for Congress and governorships to advance regulatory clarity for digital assets in the United States. The PAC is heavily linked to the crypto industry, with $10 million in funding provided by financial services giant Cantor Fitzgerald and $1 million from Anchorage Digital. The relationship is further tightened by the involvement of Bo Hines, the current CEO of Tether US and former crypto adviser to Donald Trump, who co-founded Nxum Group, the firm receiving the advertising disbursements. FEC records show that Fellowship has already distributed funds to several candidates, including $300,000 for Clay Fuller in Georgia, $850,000 for Nate Morris in Kentucky, and $350,000 for incumbent Senator Pete Ricketts in Nebraska. These expenditures are part of a broader strategy to champion transparency and pro-crypto policy. While Fellowship PAC initially announced it would wield $100 million in pledged backing—a figure that would rival the industry's leading PAC, Fairshake—current filings indicate that the full amount has not yet materialized. Additionally, the PAC's ties to Tether executives have raised questions regarding contribution legality, as non-U.S. entities are prohibited from direct involvement in U.S. campaign finances.