According to disclosed documents, the Tether-affiliated super Odaily Fellowship PAC made its first expenditure before the 2026 U.S. midterm elections, paying approximately $300,000 to Nxum Group, a company co-founded by Bo Hines, for advertising services for Republican candidates.
Bo Hines currently heads Tether's US operations and previously served as a digital asset policy advisor in the Trump administration. Jesse Spiro, chairman of the Fellowship PAC, also comes from Tether US.
Public records show that Nxum Group was co-founded by Bo Hines and his partners. This transaction comes as the PAC first filed its spending records with the Federal Election Commission (FEC). The PAC had previously announced it would invest up to $100 million to support crypto-friendly candidates, but its current disclosed funds are still close to zero.
Under U.S. campaign finance rules, it is not illegal for political committees to pay service fees to related parties, but they must comply with the principle of "fair market price," which has sparked discussions about potential conflicts of interest.
Meanwhile, Fellowship PAC has begun targeted advertising and candidate endorsements in the Republican elections, seen as one of the crypto industry's new tools for political influence in the 2026 election cycle, but its funding sources and operational transparency remain questionable. (CoinDesk)
