Cantor Fitzgerald donates $10M to PAC chaired by Tether exec

Cantor Fitzgerald gave $10 million in February to the Fellowship PAC, Federal Election Commission filings show. The PAC has been increasing spending to support candidates who favor clearer rules for digital assets.

The Fellowship PAC launched in September 2025 with more than $100 million in committed backing and says it will back candidates who support transparent, predictable regulation for digital assets. The filings list the $10 million payment from Cantor Fitzgerald and a separate $1 million donation from crypto bank Anchorage Digital. The PAC has also spent more than $1 million on advertising for Senate and House candidates, including Nate Morris in Kentucky, Pete Ricketts in Nebraska and Clay Fuller in Georgia.

Cantor Fitzgerald began serving as a custodian for Tether’s reserves in 2021. The firm is listed as the reserve custodian and preferred primary dealer for USAT, a U.S.-focused stablecoin that launched in January after Congress passed stablecoin legislation. Anchorage Digital is the acting issuer of USAT.

The filings show payments to Nxum Group LLC, a company co-founded by Bo Hines, the CEO of Tether.US and a former executive director of the White House’s President’s Council of Advisers on Digital Assets. Earlier this month the Fellowship PAC named Jesse Spiro, a Tether U.S. executive, as its chairman.

Anchorage Digital, in a statement about its $1 million contribution, described the donation and the firm’s engagement with policymakers from both parties as an investment in the policy process to promote clear, workable rules for digital assets. The statement added that regulatory clarity has guided the company’s interactions with both Democratic and Republican administrations.

Cantor Fitzgerald declined to comment on the donation. Tether did not respond to a request for comment.

Records show the Fairshake PAC had about $193 million as of January. Filings indicate other crypto-aligned groups raised substantial funds during the 2024 election cycle and that private entities have continued to donate to PACs supporting candidates on digital-asset policy.