A marketing firm co-founded by former White House crypto adviser Bo Hines received $3 million from a political action committee run by associates of stablecoin giant Tether — money that flowed from the same PAC now disclosing millions in donations from two major financial institutions.
Familiar Faces Behind The Money
The Fellowship PAC filed documents Wednesday with the US Federal Election Commission showing it received $10 million from Cantor Fitzgerald and $1 million from Anchor Labs, the parent company of crypto bank Anchorage Digital.
Both contributions were made in January 2026. The PAC is led by Tether’s head of government affairs, and its treasurer, Mitchell Nobel, has served as Cantor Fitzgerald’s director of digital asset strategy since August 2025 — roughly the same time Fellowship registered with the FEC. That means the PAC’s biggest donor and its top financial officer share an employer.
Source: FEC
Hines, who also holds the title of Tether US CEO, co-founded the Nxum Group, the marketing company that received the $3 million in “issue advocacy advertising” spending. His dual role — private sector executive and former government official — puts him at the center of a web of financial relationships that connects the PAC’s spending directly back to Tether’s orbit.
Crypto’s new $11M PAC has booked millions in ads with a firm founded by Tether’s CEO, signaling strategic growth! 💰📈
— Bitcoin Dino 🦖 (@bitcoindinos) April 15, 2026
Anchorage had previously signaled its political ambitions. Reports indicate the company announced in March that it would join Chainlink to back the Blockchain Leadership Fund, a separate hybrid PAC that can contribute directly to candidates.
An Anchorage spokesperson said at the time the company planned a “meaningful contribution” to be reported to the FEC. As of Wednesday, no such filing had appeared publicly.
A Gap Between Claims And Disclosures
When Fellowship launched in September 2025, it announced it had secured “over $100 million” from backers aligned with the crypto industry. FEC records told a different story. No contributions above $200 were recorded between August 7 and December 31, 2025.
The $11 million now disclosed covers January 2026 contributions. It is a fraction of the nine-figure figure the PAC originally touted.
Whether additional large donations are still in the pipeline remains unclear. FEC filings operate on set reporting windows, meaning contributions made after March 31 would not yet be required to appear in public records.
Targeting Key Races Ahead Of May Primaries
The PAC has already begun spending in targeted congressional contests. Reports say Fellowship put $1.5 million toward media buys supporting Republican candidates in Georgia’s 14th Congressional District and in US Senate races in Nebraska and Kentucky. All three states are scheduled to hold party primaries in May.
Featured image from Unsplash, chart from TradingView
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