Fellowship PAC, a crypto-aligned political action committee run by Tether’s head of government affairs, disclosed $11 million in contributions in a recent Federal Election Commission filing. The report lists $10 million from Cantor Fitzgerald and $1 million from Anchor Labs, the firm behind crypto bank Anchorage Digital. The donations were reported as having arrived in January 2026. The PAC also reported $3 million in “issue advocacy advertising” paid to the Nxum Group, a marketing firm co-founded by Bo Hines, a former White House crypto adviser and Tether US CEO.
When Fellowship launched in September it said it had “over $100 million” from undisclosed crypto-aligned backers. But 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 election cycle saw crypto-backed PACs spend hundreds of millions on media to promote candidates seen as pro-crypto and to oppose those viewed as anti-crypto. With control of Congress contested this year, Fellowship’s recent disclosures indicate the industry could again direct substantial political spending.
April filings from Fellowship also recorded roughly $1.5 million in media buys tied to Republican campaigns — backing a House contest in Georgia’s 14th Congressional District and supporting Senate races in Nebraska and Kentucky — ahead of party primaries scheduled in May.
Fellowship’s connections 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 said in March it would join Chainlink to support the Blockchain Leadership Fund, a hybrid PAC able to contribute directly to candidates and make independent expenditures. An Anchorage spokesperson told reporters the company planned a “meaningful contribution” to be disclosed with the FEC, but as of Wednesday no related filing was publicly available.