A $10 million donation from Cantor Fitzgerald to the Fellowship PAC is an interesting development. It’s a concrete example of how seriously the traditional finance world is taking the crypto lobbying game.

In fact, this is not just a donation. Cantor has been the protector of Tether’s reserve assets since 2021, meaning it already holds a central position within the system. Howard Lutnick’s appointment as U.S. Secretary of Commerce is no coincidence – it shows how tightly the crypto-finance-politics triangle is connected.

The Fellowship PAC is managed by Jesse Spiro, Tether’s head of U.S. government relations. So far, they have spent $3 million on defense advertising and $1.5 million supporting Republican candidates like Nate Morris. Supporting candidates like Morris is part of a strategy to cultivate crypto-friendly members of Congress.

On the other hand, Anchorage Digital also contributed $1 million. So, it’s not just Tether; the entire digital asset banking sector is making the same move. The effort to position crypto allies in Washington has become serious.

Congress is currently actively debating stablecoins and the digital asset market structure under the CLARITY Act. PAC funds at this scale are precisely aimed at the places where these votes will take place. Cantor’s move shows that traditional finance sees the value in broadly funding pro-crypto regulatory outcomes.

PAC spending influences candidate selection, builds political goodwill, but does not write legislation. Still, these steps toward Fellowship’s $100 million goal in 2025-2026 aim to shape who will sit in Washington. Such coordinated moves by the crypto industry demonstrate how organized the sector has become.