Fellowship PAC Reports $11M in Donations from Cantor Fitzgerald and Anchorage Digital
The organization, managed by Tether's government affairs director, disclosed expenditures totaling $3 million on promotional campaigns through a firm co-created by Bo Hines, who serves as Tether US's CEO.
Recent documentation submitted by the cryptocurrency-focused political action committee (PAC) managed by the government affairs director of Tether, a stablecoin issuing company, has revealed $11 million in donations received from major financial entities.
According to a filing submitted Wednesday to the US Federal Election Commission (FEC), Fellowship PAC disclosed receiving $10 million from Cantor Fitzgerald, a financial services corporation, along with $1 million from Anchor Labs, the parent company operating Anchorage Digital, a cryptocurrency banking institution. These donations made in January 2026 coincided with the PAC's expenditure of $3 million designated for "issue advocacy advertising" through the Nxum Group, a marketing firm co-established by Bo Hines, who previously served as a White House crypto adviser and currently holds the position of Tether US CEO.
Notwithstanding the substantial donations received from Cantor Fitzgerald and Anchorage, Fellowship had originally announced having "over $100 million" in financial support from unnamed supporters with cryptocurrency industry connections when it launched operations in September. Federal Election Commission records indicated zero receipts exceeding $200 during the period spanning Aug. 7, 2025 through Dec. 31, 2025, though these filings did not obligatorily encompass any donations made subsequent to March 31.
During the 2024 US electoral cycle, political action committees backed by cryptocurrency interests deployed hundreds of millions of dollars toward media campaigns designed to boost candidates they viewed as "pro-crypto" while working against those labeled "anti-crypto" by substantial segments of the industry. Given that control of the US Congress remains up for grabs this year, PAC expenditures such as those made by Fellowship indicate the cryptocurrency sector may attempt to replicate their 2024 achievements.
Beyond the $3 million allocated to advertising expenses, the PAC's April disclosures revealed expenditures exceeding $1.4 million on media purchases backing Republican contenders in Georgia's 14th Congressional District alongside candidates competing in US Senate elections in Nebraska and Kentucky. Primary elections in these three US states are slated to take place in May.
PAC's ties to the crypto industry
Mitchell Nobel, whose name appears as the PAC's treasurer, has simultaneously served as Cantor Fitzgerald's director of digital asset strategy and policy beginning in August 2025, approximately when Fellowship submitted its organizational statement to the FEC.
In March, Anchorage made public its plans to partner with Chainlink in supporting the creation of the Blockchain Leadership Fund, a hybrid PAC structure permitting both direct candidate contributions and independent expenditures. A representative from Anchorage informed Cointelegraph during that period that the organization intended to make a "meaningful contribution" subject to FEC disclosure requirements, though no such filing had been made publicly available as of Wednesday.