Svmuu News According to disclosure documents, the Tether-linked super political action committee Fellowship PAC has made its first expenditure ahead of the 2026 U.S. congressional midterm elections, paying approximately $300,000 to Nxum Group, a company co-founded by Bo Hines, for advertising services for Republican candidates.
Bo Hines currently serves as the head of Tether's U.S. operations and previously worked as a digital asset policy advisor in the Trump administration. The chairman of Fellowship PAC, Jesse Spiro, is also from Tether US.
Public records show that Nxum Group was co-founded by Bo Hines and his partners. This transaction occurred as the PAC filed its first expenditure report with the U.S. Federal Election Commission (FEC). The PAC had previously announced plans to invest up to $100 million to support crypto-friendly candidates, but its currently disclosed account funds remain close to zero.
Under U.S. campaign finance rules, it is not illegal for a political committee to pay service fees to related parties, but such payments must comply with the "fair market value" principle, sparking discussions about potential conflicts of interest.
Meanwhile, Fellowship PAC has begun targeted advertising and candidate support in Republican elections and is seen as one of the crypto industry's new tools for political influence in the 2026 election cycle. However, its funding sources and the transparency of its actual operations continue to face scrutiny. (CoinDesk)