Key Highlights
- Fellowship PAC secured $11M in total funding: $10M from Cantor Fitzgerald, $1M from Anchorage Digital
- Approximately $3M allocated to advertising campaigns via Nxum Group, a company co-founded by Bo Hines, CEO of Tether US
- The political action committee is supporting GOP contenders across Georgia, Kentucky, and Nebraska
- Initial September 2025 announcement claimed over $100M in committed support
- Mitchell Nobel from Cantor Fitzgerald holds dual role as the PAC’s treasurer
A cryptocurrency-aligned political action committee known as Fellowship PAC has reported receiving $11 million in donations according to documents submitted to the Federal Election Commission (FEC).
The contributions originated from two major players in the financial sector: Cantor Fitzgerald provided $10 million, while Anchor Labs, the parent organization of digital asset bank Anchorage Digital, contributed $1 million. Both donations were recorded during January 2026.
The political action committee is headed by Tether’s government affairs director and maintains relationships with prominent individuals across cryptocurrency and political spheres. Tether US CEO Bo Hines, who formerly held a position as President Trump’s cryptocurrency advisor, established Nxum Group alongside partners. This marketing company has received $3 million from Fellowship for promotional activities.
Hines transitioned from his White House position last year to assume leadership at Tether. Previously, Nxum made a $1 million billboard advertising contribution to MAGA Inc. during 2024.
The relationship between Cantor Fitzgerald and Fellowship extends beyond simple financial support. The financial services company manages reserve assets for Tether’s stablecoin operations. Howard Lutnick, who previously led Cantor Fitzgerald, currently holds the position of Commerce Secretary under Trump. Mitchell Nobel, serving as Cantor’s director for digital asset strategy, appears in official documents as Fellowship’s treasurer.
Expenditure Breakdown
Fellowship has allocated $1.5 million toward promotional campaigns supporting Republican candidates across three competitive states. This investment includes $300,000 backing Clay Fuller, who successfully secured the Georgia House seat formerly held by Marjorie Taylor Greene. An additional $850,000 supports Nate Morris’s campaign for Kentucky’s U.S. Senate position, while $350,000 benefits current Nebraska Senator Pete Ricketts.
Each of these states has party primary elections scheduled for May.
When Fellowship launched in September 2025, the organization publicly stated it had secured more than $100 million in committed funding. Nevertheless, FEC documentation revealed zero receipts exceeding $200 throughout the August-December 2025 period.
This discrepancy between publicly announced figures and officially reported contributions has attracted scrutiny. Fellowship has not provided responses to inquiries seeking clarification.
Anchorage Digital’s Involvement
Anchorage Digital characterized its $1 million donation as aligned with its comprehensive political engagement approach.
“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 revealed plans to collaborate with Chainlink in supporting the Blockchain Leadership Fund, a hybrid political action committee authorized to make direct candidate contributions.
Questions persist regarding Tether’s ability to make direct contributions to Fellowship. Federal regulations prohibit foreign entities from participating directly in U.S. electoral financing activities.
Tether US has not provided responses to commentary requests. Similarly, Cantor Fitzgerald declined to discuss its participation.
The latest FEC documentation encompasses contributions received through March 31, 2026. Donations obtained following this deadline remain unreported in public filings.
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