Jesse Spiro, the head of government affairs at stablecoin issuer Tether, will chair the Fellowship PAC, a committee formed in August 2025. The PAC aims to support candidates who advocate for innovation, regulatory clarity for digital assets, and open markets ahead of the 2026 US midterm elections.
"We have an opportunity to ensure the United States remains the global hub for builders, entrepreneurs, and technological progress," said Spiro. "Fellowship PAC is committed to supporting leaders who understand what’s at stake and are willing to act."
The PAC has claimed to have raised over $100 million from undisclosed backers aligned with the crypto industry. While it filed a statement of organization with the US Federal Election Commission (FEC) on Aug. 7, no contributions or expenditures were reported as of Dec. 31. The exact sources of funding remain unclear.
Money from the crypto industry could play a significant role in influencing US elections, following Fairshake PAC's spending of over $130 million in media buys during the 2024 elections. With more than seven months before the 2026 general election, PACs like Fairshake and Fellowship have ample time to sway voters.
Separately, legislation being considered by US lawmakers in the Senate may impact Tether, the issuer behind USDt, amid ongoing debates over stablecoin rewards and other issues.