The newly formed super PAC, Fellowship PAC, announced on Monday that it will spend more than $100 million on candidate campaigns in support of pro-crypto policies. This is the latest move by the digital asset industry to overwhelm political opponents and push lawmakers to defend the industry's interests in Washington.
It is worth noting that the PAC is more aligned with Republicans and President Trump than Fairshake, the super PAC that currently dominates the crypto industry. According to the filing, the treasurer of Fellowship PAC is an executive of Wall Street firm Cantor Fitzgerald, and the company was previously run by Commerce Secretary Howard Lutnik.
The group's backers are expected to include Tether, the world's largest stablecoin issuer, according to two people familiar with the matter. The foreign company recently set up a US entity that allows it to provide funds to super PACs. Tether has faced charges of financial fraud and condoning platform crime, but has been active in forging links with the Trump administration, including hiring Bo Hines, Mr. Trump's crypto adviser who left last month, and working closely with Cantor Fitzgerald, run by Mr. Lutnik's son.
Tether-backed new pro-Trump super PAC Fellowship PAC to spend over $100 million to support pro-crypto policy candidate
2025-09-16 01:22:34
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