In a significant move for cryptocurrency political influence, Jesse Spiro, Vice President of Regulatory Affairs at Tether US, has been appointed as the new Chairman of The Fellowship political action committee (PAC). This announcement, made on Wednesday, marks the PAC's return to public activity after months of near-total silence following its September pledge of $100 million to support pro-crypto candidates in the upcoming U.S. midterm elections.
The Fellowship stated that Spiro will lead its next phase of growth, expanding efforts to back pro-innovation candidates as primaries unfold across the country ahead of the November vote. "This is a pivotal moment for American innovation. 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," Spiro said in the announcement.
The appointment solidifies a long-rumored link between the PAC and Tether, the world's largest stablecoin issuer. When The Fellowship launched seven months ago, Tether International formally denied any affiliation. However, Federal Election Commission (FEC) records had already shown a connection, listing Mitchell Nobel, an executive at Cantor Fitzgerald—the firm that custodies Tether's reserves—as the PAC's treasurer. Federal records also confirm that none of the pledged $100 million has been disbursed to date.
This strategic placement of a sitting Tether executive at the helm signals the broader crypto industry's consolidation of political power ahead of elections that could shape the U.S. regulatory framework for digital assets for years to come. The Fellowship plans to release its first candidate endorsements soon and begin deploying its substantial war chest.
