Jesse Spiro, head of government affairs at stablecoin issuer Tether, will chair a new crypto-backed Super PAC called Fellowship PAC. The group, which launched in August and claims over $100 million in funding, plans to support pro-crypto candidates starting with the 2026 U.S. midterm elections.
Jesse Spiro will be chairing the organization of a crypto-backed Super political action committee to actively support candidates in the 2026 U.S. midterm elections and beyond. The Fellowship PAC said it would support candidates in favor of regulatory clarity for digital assets and open markets.
The committee launched in August 2025 and later claimed to have raised over $100 million from undisclosed backers. “We have an opportunity to ensure the United States remains the global hub for builders, entrepreneurs, and technological progress,” said Spiro in the announcement.
The addition of this Super PAC could significantly influence U.S. elections. Another crypto-aligned group, the Fairshake PAC backed by Ripple Labs and Coinbase, spent more than $130 million on media buys in 2024.
Fellowship PAC filed its statement of organization with the U.S. Federal Election Commission on August 7. It had reported no contributions or expenditures as of December 31, despite its $100 million claim.
Money from the crypto industry may have already been a factor in U.S. state primaries that began in March. More than seven months remain before the 2026 general election for PACs to sway voters.
Tether is likely to be affected by cryptocurrency legislation currently stalled in the U.S. Senate. The House passed a digital asset market structure bill called the CLARITY Act in July 2025.
The Senate Banking Committee postponed a markup on the bill in January and had not rescheduled it as of Wednesday. Debate over stablecoin rewards and other issues has effectively stalled the legislation’s progress.
