Fellowship PAC receives $11 million in funding from financial institutions, plans to contribute campaign donations to crypto-friendly individuals in Congress

Recently, the cryptocurrency political action committee Fellowship PAC related to Tether received a total of $11 million in funding from two financial institutions.

According to documents provided by the U.S. Federal Election Commission, in January of this year, Fellowship PAC received donations of $10 million from Cantor Fitzgerald and $1 million from Anchor Labs, the parent company of the crypto bank Anchorage Digital.

The PAC is led by Tether government affairs director, with its financial officer Mitchell Nobel serving as Digital Asset Strategy Director at Cantor Fitzgerald since August 2025. This indicates that the PAC’s largest donor and CFO are employed by the same employer.

Additionally, Nxum Group, a marketing firm co-founded by former White House crypto advisor Bo Hines, received $3 million from Fellowship PAC for “issue advocacy advertising.” Notably, Bo Hines also serves as Tether US CEO.

When Fellowship PAC launched in September 2025, it claimed to have support from “over $100 million” from cryptocurrency industry supporters. However, according to Federal Election Commission records, there were no donations exceeding $200 between August 7 and December 31, 2025.

The $11 million disclosed by Fellowship PAC currently only reflects donations made in January 2026, far from the initial nine-figure amount claimed.

Currently, the PAC has begun investing funds in specific congressional campaigns. Reports indicate it has spent $1.5 million on media buys supporting Republican candidates in Georgia’s 14th congressional district, as well as in Nebraska and Kentucky Senate races, all of which hold primaries in May.