Jesse Spiro, the head of government affairs at stablecoin issuer Tether, is set to chair Fellowship PAC, a crypto-aligned Super political action committee targeting the 2026 US midterm elections and future races. The PAC announced Spiro’s appointment on Wednesday, ahead of its first planned political endorsements for the 2026 cycle. Fellowship PAC says it intends to back candidates who support innovation, regulatory clarity for digital assets, and open markets.
Fellowship PAC launched in August 2025 and has since claimed to have raised more than $100 million from undisclosed backers with ties to the crypto industry. The committee filed a statement of organization with the US Federal Election Commission on August 7, though it reported no contributions or expenditures as of December 31. The identities of those funding the committee remain unclear, and the PAC did not respond to requests for comment at the time of publication.
“We have an opportunity to ensure the United States remains the global hub for builders, entrepreneurs, and technological progress,” Spiro said in a statement. He added that Fellowship PAC is committed to backing leaders who understand what is at stake and are prepared to act. The remarks signal an intent to play an active and sustained role in shaping US political outcomes around digital asset policy.
The emergence of a well-funded crypto Super PAC follows a pattern established in the 2024 election cycle. Fairshake PAC, backed by Ripple Labs and Coinbase, spent more than $130 million on media buys during the 2024 elections and entered the 2026 cycle with $193 million on hand. Fellowship PAC’s claimed war chest could make it another significant force alongside existing industry-aligned committees.
Crypto-industry money has already intersected with US state primaries, which began in March 2026. Some industry-backed candidates failed to win their races in Illinois, but with more than seven months remaining before the general election, PACs including Fairshake, Fellowship, and others retain considerable time and resources to influence voters and races across the country.
Tether’s involvement in electoral politics comes as the company faces potential consequences from legislation moving through Congress. As the issuer of USDt, the largest stablecoin by market capitalization, Tether stands to be directly affected by any new regulatory framework governing stablecoins. The House of Representatives passed a digital asset market structure bill known as the CLARITY Act in July 2025, but the legislation has stalled in the Senate amid disputes over stablecoin rewards, tokenized equities, and ethics concerns.
The Senate Banking Committee postponed a scheduled markup of the bill in January and had not rescheduled it as of Wednesday. Whether and when the full Senate chamber might vote on the measure remains uncertain, leaving the regulatory landscape for stablecoin issuers like Tether unresolved for the foreseeable future.
Originally reported by CoinTelegraph.
