Jesse Spiro, Tether’s head of government affairs, will chair a new crypto-backed super political action committee that plans to actively support candidates in the 2026 U.S. midterms and beyond.
The Fellowship PAC, which launched in August 2025 and says it has raised “over $100 million” from undisclosed crypto-aligned supporters, announced Spiro’s appointment ahead of its first round of endorsements for the 2026 cycle. The committee says it will back candidates who prioritize technological innovation, clearer regulation for digital assets, and open markets. Spiro framed the effort as an attempt to keep the United States attractive to builders, entrepreneurs, and technological progress.
A well-funded, crypto-aligned super PAC could be a major force in upcoming elections. The Fairshake PAC, backed by Ripple Labs and Coinbase, spent more than $130 million on media in the 2024 campaigns and reported holding $193 million as it prepared for the 2026 midterms.
Fellowship filed a statement of organization with the Federal Election Commission on Aug. 7 and reported no contributions or expenditures as of Dec. 31. Despite the PAC’s public claim of a war chest exceeding $100 million, it has not disclosed the identities of its donors. The PAC did not immediately respond to requests for comment.
Industry political spending may already be shaping races. State primaries that began in March saw some industry-aligned candidates lose contests in Illinois, but with more than seven months until the 2026 general election, PACs such as Fairshake and Fellowship have time to influence voter outreach and media strategies.
Separately, debate over stablecoin yield remains a flashpoint in congressional crypto policy deliberations. Tether, issuer of the largest stablecoin by market capitalization, USDt (USDT), could be affected by measures under consideration in the Senate. The House passed the CLARITY Act, a digital asset market structure bill, in July 2025, but Senate action has stalled amid disputes over issues including stablecoin rewards, tokenized equities, and ethics provisions.
As of this week, the Senate Banking Committee had not rescheduled a markup it postponed in January, leaving the bill’s path to a full Senate vote uncertain.
This article was produced under Cointelegraph’s Editorial Policy. Cointelegraph states its commitment to independent, transparent journalism and encourages readers to verify information independently. Read the Editorial Policy: https://cointelegraph.com/editorial-policy