Fellowship PAC Raises $11M, Spends $3M on Ads via Nxum Group Linked to Tether CEO

According to Huoxing Finance, the newly formed political action committee in the crypto industry, Fellowship PAC, has raised approximately $11 million, with $10 million coming from Cantor Fitzgerald and $1 million from Anchorage Digital. It has already spent about $3 million on political advertising, with payments made to Nxum Group, co-founded by Bo Hines, CEO of Tether US. The PAC primarily supports Republican candidates and has allocated funds toward congressional and state-level elections. Although the organization has ties to Tether executives, its primary funding comes from financial institutions, and it remains unclear whether Tether itself is directly involved in these political contributions.