Fellowship PAC Invests $3M in Pro-Crypto Candidates via Tether-Linked Firm

The Fellowship PAC has allocated $3 million for political advertising through Nxum Group, a company connected to Tether's US leadership.

Nxum Group was co-founded by Bo Hines, who previously served as a crypto adviser to Donald Trump. This development underscores the growing ties between crypto firms and US political financing.

The PAC has raised $11 million in total, with notable contributions coming from Cantor Fitzgerald ($10 million) and Anchorage Digital ($1 million). The funds are being used to support pro-crypto candidates in various congressional and Senate races.

Regulatory filings indicate that the PAC initially aimed to raise up to $100 million, but current records show a smaller early funding base with concentrated spending on advertising.