Fellowship PAC completes $11 million fundraising, FEC filings disclose funding sources

According to a report by CoinDesk on April 15, Federal Election Commission (FEC) filing documents show that the crypto super political action committee Fellowship PAC has raised $10 million from Cantor Fitzgerald and $1 million from Anchorage Digital, for a total fundraising amount of $11 million.

FEC Filing Documents: Breakdown of Donation Sources

According to the FEC filing documents released on Wednesday, the two disclosed donors to Fellowship PAC are:

Cantor Fitzgerald: $10 million in contributions, accounting for 90.9% of the disclosed funding total

Anchorage Digital: $1 million in contributions, accounting for 9.1% of the disclosed funding total

In a statement about the donation, Anchorage Digital said the contribution was “part of a broader, bipartisan approach,” aimed at “advancing clarity in U.S. digital asset regulation.” Anchorage Digital is the first crypto-native bank to receive a federal charter in the United States.

A spokesperson for Cantor Fitzgerald declined to comment on its relationship with Fellowship PAC. Tether US did not respond to a request for comment. Fellowship PAC did not respond to CoinDesk’s request for comment.

Nxum Group Advertising Contract and Background of Those Involved

According to FEC documents, all $3 million in advertising spending by Fellowship PAC to date has gone to Nxum Group. Nxum Group was co-founded by Bo Hines, who previously served as a crypto adviser to former U.S. President Donald Trump, and joined Tether last year to become the CEO of Tether US. CoinDesk reported that Nxum Group previously had no notable record of serving political action committees or election campaigns, and in 2024 donated outdoor advertising billboards worth $1 million to MAGA Inc.

FEC documents show that the chair of Fellowship PAC is a senior executive at Tether, while the treasurer is an executive at Cantor Fitzgerald. Cantor Fitzgerald is currently managed by the children of former CEO Howard Lutnick. Lutnick currently serves as the U.S. Department of Commerce secretary in the Trump administration. Cantor Fitzgerald is also responsible for managing reserves for Tether’s stablecoin business.

Current Status of Candidate Endorsements and Funding Commitments by Fellowship PAC

According to FEC filing documents, Fellowship PAC focuses on supporting Republican candidates running for U.S. House seats and governor positions in various states. Disclosed candidate endorsements include:

Georgia U.S. Representative Clay Fuller: $300,000

Morris 1535 campaign account: $850,000

Nebraska U.S. Senator Pete Ricketts: Amount pending further confirmation in FEC documents

When Fellowship PAC announced its formation last year, it claimed it had received $100 million in funding commitments. However, as of the latest FEC filing as of April 15, 2026, the disclosed actual fundraising amount was $11 million. Regarding regulatory questions about direct donations by Tether and Tether US, CoinDesk reported that under current U.S. campaign finance laws, non-U.S. entities may not directly participate in U.S. election donation activities.

Frequently Asked Questions

Which institutions does Fellowship PAC’s $11 million in funding come from?

Based on the FEC filing documents dated April 15, 2026, Fellowship PAC’s funding to date comes from Cantor Fitzgerald ($10 million) and Anchorage Digital ($1 million), totaling $11 million.

What direct ties does Nxum Group have to Tether US?

According to FEC documents and CoinDesk reporting, Nxum Group was co-founded by the current CEO of Tether US, Bo Hines, his father, and another partner; Fellowship PAC has paid Nxum Group $3 million in advertising fees.

Why is there a discrepancy between Fellowship PAC’s claimed $100 million commitment and the $11 million revealed in the FEC filings?

When Fellowship PAC was formed last year, it announced that it had received a $100 million funding commitment. However, as of the latest FEC filing as of April 15, 2026, the actual disclosed fundraising amount is $11 million. Fellowship PAC has not responded to CoinDesk about this discrepancy.