Crypto-Backed Super PAC Taps Tether Exec for Leadership Ahead of Midterms

The Fellowship PAC claims to have over $100 million in funding from crypto interests to support pro-innovation candidates.

Apr. 1, 2026 at 8:08pm

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A new crypto-aligned Super PAC called the Fellowship PAC has announced that Jesse Spiro, the head of government affairs at stablecoin issuer Tether, will become the organization's chair. The PAC claims to have raised over $100 million from undisclosed crypto industry backers and plans to support political candidates who favor digital asset innovation and regulatory clarity.

Why it matters

The addition of a well-funded crypto-backed Super PAC could have a significant influence on the 2026 US midterm elections, as the industry seeks to elect lawmakers sympathetic to its policy priorities. This follows the Fairshake PAC, backed by Ripple and Coinbase, spending over $130 million on the 2024 elections.

The details

The Fellowship PAC filed its statement of organization with the Federal Election Commission in August 2025 but had not reported any contributions or expenditures as of the end of 2025. The group says it will support candidates who favor innovation, regulatory clarity for digital assets, and open markets. Tether's Jesse Spiro, who oversees government affairs for the stablecoin issuer, will now chair the organization ahead of its first political endorsements.

  • The Fellowship PAC launched in August 2025.
  • As of December 31, 2025, the PAC had not reported any contributions or expenditures.
  • The 2026 US midterm elections are scheduled for November.

The players

Jesse Spiro

The head of government affairs at stablecoin issuer Tether, who will now chair the crypto-backed Fellowship PAC.

Fellowship PAC

A new Super PAC that claims to have raised over $100 million from undisclosed crypto industry backers to support political candidates favoring digital asset innovation and regulatory clarity.

Fairshake PAC

A crypto-aligned Super PAC backed by Ripple Labs and Coinbase that spent over $130 million on the 2024 US elections and reported having $193 million ahead of the 2026 midterms.

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What they’re saying

“We have an opportunity to ensure the United States remains the global hub for builders, entrepreneurs, and technological progress. Fellowship PAC is committed to supporting leaders who understand what's at stake and are willing to act.”

— Jesse Spiro, Head of Government Affairs, Tether

What’s next

The Fellowship PAC plans to make its first political endorsements ahead of the 2026 US midterm elections, which could have a significant impact on the crypto industry's policy priorities in Congress.

The takeaway

The rise of crypto-backed Super PACs like Fellowship and Fairshake highlights the industry's growing political influence and its efforts to shape the regulatory landscape through campaign contributions. This could lead to increased tensions between the crypto sector and policymakers, as the industry seeks to elect lawmakers sympathetic to its interests.