Key Takeaways
- The Fellowship PAC secured $11 million in contributions: Cantor Fitzgerald provided $10M while Anchorage Digital contributed $1M
- Approximately $3 million has been allocated to advertising campaigns via Nxum Group, a company co-founded by Bo Hines, CEO of Tether US
- The political action committee is supporting GOP contenders across Georgia, Kentucky, and Nebraska
- At its September 2025 inception, Fellowship announced it had secured $100M in commitments
- Mitchell Nobel, who serves as Cantor Fitzgerald’s treasurer, holds the same position at Fellowship PAC
A cryptocurrency-focused political action committee known as Fellowship PAC has reported receiving $11 million in donations according to recent documentation submitted to the Federal Election Commission (FEC).
The donations originated from two prominent industry players: Cantor Fitzgerald, a financial services powerhouse, contributed $10 million, while Anchor Labs, the parent organization of cryptocurrency banking platform Anchorage Digital, provided $1 million. These transactions took place during January 2026.
The political action committee operates under leadership connected to Tether’s government relations division and maintains relationships with influential personalities across cryptocurrency and political spheres. Tether US CEO Bo Hines, who formerly held a position as President Trump’s cryptocurrency advisor, established Nxum Group alongside partners—the very marketing company that has received $3 million from Fellowship for promotional campaigns.
Hines transitioned from his White House position last year to assume his role at Tether. Previously, Nxum contributed $1 million worth of billboard advertising to MAGA Inc. during 2024.
The relationship between Cantor Fitzgerald and Fellowship extends beyond simple financial support. The financial services firm manages reserve assets for Tether’s stablecoin operations. Howard Lutnick, the firm’s previous leader, currently holds the position of Commerce Secretary under Trump. Mitchell Nobel, serving as Cantor’s director of digital asset strategy, appears on Fellowship’s records as its treasurer.
Allocation of Campaign Funds
Fellowship has committed $1.5 million toward media purchases supporting Republican contenders across three states. This includes a $300,000 investment backing Clay Fuller, who successfully secured Marjorie Taylor Greene’s previous Georgia House position. An additional $850,000 supports Nate Morris in his Kentucky U.S. Senate campaign, while $350,000 backs current Nebraska Senator Pete Ricketts.
Each of these states will conduct their party primary elections in May.
When Fellowship launched in September 2025, leadership claimed to have secured commitments exceeding $100 million. Despite this announcement, Federal Election Commission records revealed zero receipts above $200 throughout the August through December 2025 period.
This discrepancy between publicly announced figures and officially documented contributions has attracted scrutiny. Fellowship has yet to provide clarification in response to inquiries.
Anchorage Digital’s Strategic Involvement
Anchorage Digital characterized its $1 million donation as an element of its comprehensive 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 partner with Chainlink in supporting the Blockchain Leadership Fund, a hybrid political action committee authorized to make direct candidate contributions.
Questions persist regarding whether Tether itself possesses the authority to directly contribute to Fellowship. Federal regulations prohibit foreign entities from direct participation in United States campaign financing activities.
Tether US has not provided responses to comment requests. Similarly, Cantor Fitzgerald has chosen not to discuss its participation.
The latest Federal Election Commission documentation encompasses contributions received through March 31, 2026. Donations obtained subsequent to that deadline await future public disclosure.
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