Mysterious Crypto PAC Receives Massive Contributions From US Commerce Secretary’s Old Firm
The Fellowship PAC received $10 million from Cantor Fitzgerald, highlighting deep ties between the firm, Tether, and crypto-focused Republican lobbying efforts.Summary
The Fellowship PAC, a newly active political group, has disclosed receiving $10 million in contributions from Cantor Fitzgerald, the former firm of US Commerce Secretary Howard Lutnick. This funding, alongside a $1 million donation from Anchorage Digital, underscores the PAC's significant financial influence. The committee is closely linked to Tether, as its Chairman, Jesse Spiro, serves as Tether's Vice President of Regulatory Affairs, and Cantor Fitzgerald maintains a key role in managing Tether’s reserve assets.
The PAC has begun utilizing these funds to support several Republican candidates across various states, including Kentucky, Nebraska, Georgia, Louisiana, and South Carolina. Investigative reports indicate that substantial portions of this money have been directed toward primary challenges and advertising, with significant capital flowing through the NXUM Group, an entity led by Tether executive Bo Hines.
(Source：BeInCrypto)