The Tether-backed pro-Trump super PAC, Fellowship PAC, will spend over 100 million USD to support pro-crypto policy candidates.

Jinse Finance reported that the newly established super political action committee Fellowship PAC announced on Monday that it will spend more than $100 millions to support candidates who advocate pro-crypto policies. This is the latest move by the digital asset industry to overwhelm political opponents and push lawmakers in Washington to protect industry interests. Notably, compared to the currently dominant crypto industry super PAC Fairshake, this PAC is more inclined to align with the Republican Party and President Trump. According to filing documents, the financial director of Fellowship PAC is an executive from Wall Street institution Cantor Fitzgerald, a company previously led by Commerce Secretary Howard Lutnick. According to two sources familiar with the matter, the organization’s supporters are expected to include Tether, the world’s largest stablecoin issuer. This foreign company recently established a U.S. entity, allowing it to provide funding to super PACs. Tether has faced accusations of financial fraud and facilitating criminal activity on its platform, but has recently been actively building ties with the Trump administration, including hiring Bo Hines, Trump’s former crypto advisor who left office last month, and closely cooperating with Cantor Fitzgerald, operated by Lutnick’s son.