Crypto PAC Fellowship discloses $11M from Cantor Fitzgerald and Anchorage Digital
TL;DR
The Fellowship PAC disclosed $11 million in contributions from Cantor Fitzgerald and Anchorage Digital, according to a recent FEC filing. The PAC has spent $3 million on issue advocacy advertising amid claims of over $100 million from undisclosed crypto backers.
Key points
- Fellowship PAC disclosed $11 million in contributions
- Contributions include $10 million from Cantor Fitzgerald
- PAC spent $3 million on issue advocacy advertising
- Initial claims of over $100 million from undisclosed backers
- FEC filings showed no receipts over $200 from Aug. to Dec. 2025
Mentioned in this story
The latest filing by the crypto-aligned political action committee (PAC) headed by stablecoin issuer Tether’s head of government affairs shows $11 million in contributions from financial institutions.
In a Wednesday filing with the US Federal Election Commission (FEC), the Fellowship PAC revealed it had received $10 million from financial services firm Cantor Fitzgerald and $1 million from Anchor Labs, the company behind the crypto bank Anchorage Digital. The January 2026 contributions came amid $3 million in spending by the PAC for “issue advocacy advertising” with the Nxum Group, a marketing company co-founded by former White House crypto adviser and Tether US CEO Bo Hines.
Source: FEC
Despite the significant contributions from Cantor Fitzgerald and Anchorage, Fellowship initially claimed to have “over $100 million” from undisclosed backers aligned with the crypto industry at its launch in September. FEC filings showed no receipts over $200 between Aug. 7, 2025 and Dec. 31, 2025, but did not necessarily include any contributions after March 31.
The 2024 US election season saw crypto-backed PACs spend hundreds of millions of dollars on media to support candidates they considered “pro-crypto” and to oppose those marked as “anti-crypto” by many in the industry. With party control of the US Congress hanging in the balance this year, PAC spending like Fellowship’s signals that the crypto industry could try to repeat their successes of 2024.
Related: US midterm election mirrors 2024 as crypto PACs move into Ohio races
In addition to its $3 million in advertising costs, the PAC reported in April that it had spent more than $1.4 million in media buys supporting Republican candidates in Georgia's 14th Congressional District and candidates in US Senate races in Nebraska and Kentucky. Those three US states are scheduled to hold party primaries in May.
PAC’s ties to the crypto industry
Mitchell Nobel, listed as the PAC’s treasurer, has also been Cantor Fitzgerald's director of digital asset strategy and policy since August 2025, roughly the same time Fellowship filed its statement of organization with the FEC.
Anchorage announced in March that it would be joining Chainlink to support the launch of the Blockchain Leadership Fund, a hybrid PAC that allows contributions directly to candidates as well as independent expenditures. An Anchorage spokesperson told Cointelegraph at the time that the company would make a “meaningful contribution” to be disclosed with the FEC, but no filing was public as of Wednesday.
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Q&A
What are the contributions disclosed by the Fellowship PAC?
The Fellowship PAC disclosed $11 million in contributions, with $10 million from Cantor Fitzgerald and $1 million from Anchorage Digital.
How much has the Fellowship PAC spent on advertising?
The Fellowship PAC has spent $3 million on issue advocacy advertising with the Nxum Group.
What was the initial claim of the Fellowship PAC regarding undisclosed backers?
The Fellowship PAC initially claimed to have over $100 million from undisclosed backers aligned with the crypto industry at its launch.
