Crypto super PAC names Tether exec chairman as stablecoin debate in D.C. intensifies
The Block
The Fellowship PAC has appointed Tether executive Jesse Spiro as chairman to support pro-crypto candidates amid stalled legislative progress in Washington.Summary
The Fellowship PAC, a pro-crypto political action committee with $100 million in funding, has appointed Tether US executive Jesse Spiro as its new chairman. Spiro will lead the organization's efforts to back pro-crypto candidates in upcoming midterm elections. This leadership change occurs as legislative efforts to pass the Clarity Act have stalled in the U.S. Senate due to intense debates over stablecoin rewards and competition with traditional banking deposits. Analysts remain pessimistic about the bill's passage this year as banking lobbyists continue to oppose provisions that could threaten traditional bank deposits.
(Source：The Block)