Fellowship PAC gets $11M crypto-linked funding

Fellowship PAC disclosed $11 million in funding from Cantor Fitzgerald and Anchorage Digital, highlighting significant financial backing tied to crypto-linked entities ahead of US midterm elections.

The political action committee revealed $10 million came from Cantor Fitzgerald, a firm previously led by US Commerce Secretary Howard Lutnick, alongside $1 million from Anchorage Digital.

The disclosure underscores close ties between Fellowship PAC and Tether, with chairman Jesse Spiro also serving as Vice President of Regulatory Affairs at Tether US.

The PAC simultaneously endorsed six Republican candidates across key races, spanning states including Louisiana, South Carolina, Georgia, Kentucky, and Nebraska.

Funding allocations included $850,000 supporting Nate Morris in Kentucky and $350,000 backing Nebraska Senator Pete Ricketts, alongside broader campaign spending.

Fellowship also directed $4.5 million to NXUM Group, including $3 million for issue advocacy advertising and $1.5 million for campaign-focused ad production.

NXUM Group was co-founded by Bo Hines, the current CEO of Tether US and former director of Donald Trump’s crypto advisory council, reinforcing the network of political and industry ties surrounding the PAC.