Super PAC tied to Tether makes first ad buy from firm founded by Tether's U.S. CEO
CoinDesk
The Fellowship PAC, linked to Tether, spent $300,000 on ads with a firm co-founded by Tether U.S. CEO Bo Hines.Summary
The Fellowship PAC, a super PAC associated with the crypto firm Tether, has disclosed its first major expenditure of $300,000 for advertising. The funds were paid to Nxum Group, a company co-founded by Bo Hines, who currently serves as the CEO of Tether U.S. While political experts note that such self-dealing is not strictly illegal if services are provided at fair market rates, the move has drawn attention due to the PAC's previous promises of transparency. Despite initial claims of having $100 million in backing, the PAC's recent disclosures show zero balance in its accounts, raising questions about its financial capacity and influence in the upcoming midterm elections.
(Source：CoinDesk)