The crypto-aligned political action committee (Fellowship PAC), led by Tether’s head of government affairs, reported $11 million in contributions from financial firms in a recent Federal Election Commission filing. The PAC disclosed $10 million from Cantor Fitzgerald and $1 million from Anchor Labs, the company behind crypto bank Anchorage Digital. These January 2026 contributions came as the PAC reported $3 million in “issue advocacy advertising” paid to the Nxum Group, a marketing firm co-founded by former White House crypto adviser and Tether US CEO Bo Hines.
At its September launch, Fellowship claimed to have “over $100 million” from undisclosed crypto-aligned backers. However, FEC filings showed no receipts over $200 between Aug. 7, 2025 and Dec. 31, 2025, though those filings did not necessarily include contributions received after March 31. The 2024 US election cycle saw crypto-backed PACs spend hundreds of millions on media to support candidates deemed “pro-crypto” and oppose those seen as “anti-crypto.” With control of Congress contested this year, Fellowship’s disclosures suggest the industry may again mount significant political spending.
In April filings, Fellowship also reported $1.5 million in media buys backing Republican candidates in Georgia’s 14th Congressional District and supporting Senate races in Nebraska and Kentucky; those states were scheduled to hold party primaries in May.
Fellowship’s ties to the crypto sector extend to its leadership and vendors. Mitchell Nobel, listed as the PAC’s treasurer, has served as Cantor Fitzgerald’s director of digital asset strategy and policy since August 2025, around the time Fellowship filed its statement of organization with the FEC. Separately, Anchorage announced in March it would join Chainlink to support the Blockchain Leadership Fund, a hybrid PAC that can contribute directly to candidates and make independent expenditures. An Anchorage spokesperson said the company planned a “meaningful contribution” to be disclosed with the FEC, but as of Wednesday no related filing was publicly available.