Crypto PAC starts 2026 endorsements

Fellowship PAC, a crypto-aligned super Political Action Committee (PAC) chaired by Tether executive Jesse Spiro, has started publicly backing candidates for the 2026 US midterms and paired that move with its first disclosed independent expenditure. Federal Election Commission records show the group reported a $300,000 ad buy through Nxum Group LLC in support of Clay Fuller in Georgia’s 14th Congressional District.

Through this move, Fellowship moves from just sending out messages to actually spending money on campaigns. The committee said last year that it had more than $100 million committed for pro-crypto and pro-innovation candidates, but until now, it had stayed mostly in the background while larger crypto political groups, such as Fairshake, led the cycle.

The first disclosed spend landed in Georgia

The FEC filing shows Fellowship reported the expenditure on April 8, one day after Fuller won the special runoff to replace Marjorie Taylor Greene in Congress. The filing lists the spending as advertising supporting Fuller and ties it to Georgia’s 14th District primary, showing the PAC is not just marking a win but trying to influence the next round of voting in the seat.

Reports show that the payment went to Nxum Group, a firm co-founded by Bo Hines, the chief executive of Tether’s US arm and a former White House crypto adviser. That detail is likely to draw scrutiny because it places the PAC’s first reported media buy with a company linked to a senior figure in Tether’s orbit.

Fellowship is joining a crowded crypto campaign push

The industry is already heavily involved in the 2026 cycle. Fairshake and its affiliates had raised about $193 million by late January, after spending more than $130 million in the 2024 elections. Fellowship is smaller and newer, but its first endorsements show that cryptocurrency is no longer moving through a single main vehicle.

This is significant in Washington since crypto legislation is still unfinished. Treasury Secretary Scott Bessent last week urged Congress to pass the Clarity Act, the market structure bill the industry has spent years pushing, even as Senate disputes have slowed progress. With that fight still unresolved, super PAC spending gives the sector another way to reward allies and put pressure on critics before November.

The next test is whether Fellowship becomes a real force

For now, the PAC’s first move is small compared with Fairshake’s scale. Still, a $300,000 opening ad buy and a public endorsement slate send a message to candidates that another crypto-funded player is ready to step into primaries and down-ballot races. If Fellowship follows through on the funding it has pledged, the industry’s political reach in 2026 could spread well beyond the better-known Fairshake network.