Key Highlights
- Fellowship PAC secured $11M in total contributions: $10M from Cantor Fitzgerald and $1M from Anchorage Digital
- The political action committee allocated $3M for advertising through Nxum Group, co-founded by Bo Hines, Tether US CEO
- Fellowship supports Republican contenders in Georgia, Kentucky, and Nebraska primary elections
- At its September 2025 debut, the PAC announced over $100M in committed support
- Mitchell Nobel, Cantor Fitzgerald’s treasurer, holds the same position at Fellowship
A crypto-focused political action committee known as Fellowship PAC has revealed $11 million in financial contributions through documentation submitted to the Federal Election Commission (FEC).
The contributions originated from two major sources: financial services powerhouse Cantor Fitzgerald provided $10 million, while Anchor Labs, the parent organization of cryptocurrency bank Anchorage Digital, contributed $1 million. Both donations were received during January 2026.
The political action committee operates under leadership from Tether’s government affairs director and maintains relationships with prominent figures across cryptocurrency and political sectors. Tether US CEO Bo Hines, who formerly advised President Trump on cryptocurrency matters, established Nxum Group alongside partners. This marketing company secured $3 million from Fellowship for promotional services.
Hines transitioned to Tether after departing his White House position last year. Prior to this move, Nxum contributed $1 million worth of billboard advertising to MAGA Inc. during 2024.
Cantor Fitzgerald maintains substantial ties to Fellowship. The financial firm manages reserve assets for Tether’s stablecoin operations. Howard Lutnick, the firm’s previous leader, currently holds the position of Trump’s Commerce Secretary. Mitchell Nobel, who directs Cantor’s digital asset strategy, serves as Fellowship’s treasurer.
Expenditure Breakdown
Fellowship has allocated $1.5 million toward media campaigns supporting Republican candidates across three states. The spending includes $300,000 backing Clay Fuller, who secured victory in Marjorie Taylor Greene’s previous Georgia House district. An additional $850,000 supports Nate Morris’s U.S. Senate campaign in Kentucky, while $350,000 backs Nebraska’s sitting Senator Pete Ricketts.
These three states will conduct their party primary elections in May.
When Fellowship launched in September 2025, organizers claimed to have secured more than $100 million in pledged financial support. Despite this announcement, FEC records showed zero receipts exceeding $200 during the August through December 2025 period.
This discrepancy between publicly stated figures and officially documented contributions has attracted scrutiny. Fellowship representatives have not provided responses to inquiries seeking clarification.
Anchorage Digital’s Strategic Involvement
Anchorage Digital characterized its $1 million donation as aligned with its overall political engagement approach.
“Anchorage Digital has made a corporate contribution to the Fellowship PAC as part of our broader, bipartisan approach to advancing regulatory clarity for digital assets,” the company said.
In March, Anchorage revealed plans to collaborate with Chainlink in supporting the Blockchain Leadership Fund, a hybrid political action committee authorized to make direct contributions to political candidates.
Questions persist regarding whether Tether itself possesses the ability to donate directly to Fellowship. Federal regulations prohibit non-U.S. entities from direct participation in American campaign financing activities.
Tether US has not provided responses to comment requests. Cantor Fitzgerald similarly declined to discuss its participation.
The latest FEC disclosure encompasses contributions received through March 31, 2026. Any financial support obtained following that date remains undisclosed to the public.
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