Key Highlights
- Fellowship PAC secured $11M in total donations: $10M from Cantor Fitzgerald, $1M from Anchorage Digital
- $3M has been allocated to advertising campaigns via Nxum Group, a company co-founded by Bo Hines, Tether US CEO
- The PAC is supporting GOP contenders across Georgia, Kentucky, and Nebraska primaries
- At its September 2025 debut, Fellowship announced over $100M in pledged support
- Mitchell Nobel, Cantor Fitzgerald’s digital asset strategy director, holds the treasurer position at Fellowship
A cryptocurrency-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 financial support originated from two major contributors: financial services powerhouse Cantor Fitzgerald provided $10 million, while Anchor Labs, the entity operating crypto banking platform Anchorage Digital, contributed $1 million. Both transactions occurred during January 2026.
Fellowship PAC operates under the leadership of Tether’s government affairs director and maintains connections to prominent individuals across cryptocurrency and political spheres. Tether US CEO Bo Hines, who previously held a position as President Trump’s cryptocurrency advisor, established Nxum Group alongside partners. This marketing agency has received $3 million from Fellowship specifically for advertising purposes.
Hines transitioned from his White House position last year to assume his role at Tether. Prior to this move, Nxum contributed $1 million worth of billboard advertising to MAGA Inc. during 2024.
The relationship between Cantor Fitzgerald and Fellowship extends beyond simple financial contribution. The financial services firm manages reserve holdings for Tether’s stablecoin operations. Howard Lutnick, Cantor’s previous leader, currently holds the position of Commerce Secretary under Trump. Mitchell Nobel, who directs Cantor’s digital asset strategy, appears in official documentation as Fellowship’s treasurer.
Campaign Spending Breakdown
Fellowship has committed $1.5 million toward media acquisitions supporting Republican candidates across three states. This includes a $300,000 investment backing Clay Fuller, who successfully secured Marjorie Taylor Greene’s previously held Georgia House position. An additional $850,000 supports Nate Morris in his Kentucky U.S. Senate campaign, while $350,000 aids incumbent Nebraska Senator Pete Ricketts.
Primary elections in all three states are scheduled for May.
When Fellowship PAC launched in September 2025, organizers proclaimed more than $100 million in committed funding. Despite this announcement, FEC documentation revealed zero receipts exceeding $200 between August and December 2025.
This discrepancy between publicly stated figures and officially disclosed amounts has attracted scrutiny. Fellowship has yet to provide responses to media inquiries seeking clarification.
Anchorage Digital’s Strategic Involvement
Anchorage Digital characterized its $1 million donation as aligned with comprehensive strategic objectives.
“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 Digital revealed plans to partner with Chainlink in supporting the Blockchain Leadership Fund, a hybrid political action committee with the capability to make direct candidate contributions.
The question of whether Tether itself possesses the ability to contribute directly to Fellowship remains unanswered. Federal regulations prohibit non-U.S. entities from direct participation in American campaign finance activities.
Tether US has not provided responses to comment requests. Similarly, Cantor Fitzgerald has chosen not to issue statements regarding its participation.
The latest FEC documentation encompasses contributions received through March 31, 2026. Any financial support obtained beyond that date awaits future public disclosure.
