Fellowship PAC, a pro-crypto super PAC tied to Tether-linked executives, has disclosed its first federal campaign expenditure: a $300,000 advertising payment to Nxum Group LLC in support of Georgia House candidate Clay Fuller.
The spending appeared in a 24/48 Hour Report of Independent Expenditures filed with the U.S. Federal Election Commission on April 8, 2026. It was the PAC’s first disclosed expenditure since launching in 2025. The filing says the payment was made on April 6 to Dover, Delaware-based Nxum Group LLC for advertising, and the ad reportedly ran publicly on April 7. The report was signed by PAC treasurer Mitchell Nobel.
Nxum and Fellowship PAC both connect back to Tether U.S.
The vendor named in the filing has its own Tether overlap. Nxum Group LLC was co-founded by Bo Hines, who serves as CEO of Tether U.S. and previously advised the Trump administration on crypto policy. The company was also co-founded by Todd Hines and a third partner.
Fellowship PAC’s leadership structure also runs through Tether’s U.S. network. On April 1, 2026, Jesse Spiro, Tether U.S. vice president of regulatory affairs and head of government affairs, became chairman of the PAC. Treasurer Mitchell Nobel is an executive at Cantor Fitzgerald, the firm that custodies Tether’s dollar reserves.
The ad supported Republican candidate Clay Fuller
The independent expenditure backed Clay Fuller, a Republican running for the U.S. House in Georgia’s 14th Congressional District. According to the report, Fuller is a Trump-backed candidate who recently won a special election to succeed former Representative Marjorie Taylor Greene. At the time of the filing, Fellowship PAC had not publicly announced the ad buy and had not added Fuller to its endorsement list.
Tether International has said it has no affiliation with Fellowship PAC. Even so, the PAC’s staffing and vendor relationships show growing ties to Tether’s U.S. operation as the country moves toward the November midterms.
$100 million pledge still absent from FEC contribution records
Fellowship PAC launched publicly on September 15, 2025, saying it had secured more than $100 million in committed funds from undisclosed backers. Yet FEC summary data covering August 7 through December 31, 2025 showed zero contributions, zero receipts, and zero cash on hand.
Super PACs must disclose contributions above $200, but no major donors have appeared in filings so far. Compared with other crypto political groups, Fellowship PAC’s $300,000 ad buy is relatively small. The report noted that Fairshake, the best-funded crypto political operation, spent more than $130 million in the 2024 election cycle.
Fellowship PAC has presented itself as a separate crypto political effort focused on regulatory clarity and U.S. leadership in digital assets. Its public endorsements include Blake Miguez, Nate Morris, Pete Ricketts, Julia Letlow, and Mike Collins. The PAC has also backed Alan Wilson for governor of South Carolina and publicly supported the CLARITY Act. Whether its previously announced financial backing appears in future FEC reports will depend on later filings.