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Fellowship PAC raises $11 million, with some advertising expenses flowing to Tether US CEO's affiliated company
The newly established political action committee in the crypto industry, Fellowship PAC, has raised approximately $11 million, with $10 million from Cantor Fitzgerald, $1 million from Anchorage Digital, and about $3 million spent on political advertising. This expenditure was paid to Nxum Group, which was co-founded by Tether US CEO Bo Hines; the PAC mainly supports Republican candidates and invests in congressional and state-level elections. Although the organization has ties to Tether executives, its primary funding sources are financial institutions, and it is currently unclear whether Tether can directly participate in related political donations. (CoinDesk)