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Ahmed Barakat
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Cantor Fitzgerald has donated $10 million to Fellowship PAC, a crypto-focused PAC led by Tether CEO Jesse Spiro, according to Federal Election Commission filings released Wednesday.
The offering comes at a time when the line between traditional money and crypto lobbying capital is becoming increasingly blurred.
The title number is big enough to be important. Whether it buys the results companies want – and when – is a very difficult question.
- Provider: Cantor Fitzgerald donated $10 million to Fellowship PAC, which was disclosed in February FEC filings.
- All uploaded: The FEC filing on Wednesday revealed $11 million in total contributions, including contributions from other sources along with Cantor’s $10 million.
- PAC Leadership: Fellowship PAC is led by Jesse Spiro, Tether US CEO, and was founded in 2025.
- Anchorage Digital: The digital investment bank separately donated $1 million to the Fellowship PAC.
- Spending so far: The Fellowship has sent $3 million in promotional advertising and $1.5 million to support three Republican candidates, including Kentucky Senate candidate Nate Morris and Georgia Representative Clay Fuller.
- History of Cantor-Tether: Cantor Fitzgerald has been managing Tether assets since 2021, making this offering an extension of the existing relationship.
- Political news: Fellowship PAC has raised $100 million in fundraising in previous elections, placing itself alongside rivals Fairshake and Defend American Jobs.
- Watch: The FEC has written through 2025 and 2026 to meet the Fellowship’s $100 million goals and public approval process ahead of key crypto regulatory hearings.
How the Cantor-Fellowship Grant Really Works, and What $10 Million Buys in Washington
A super PAC operates without restrictions from organizations or individuals, unless it has direct contact with candidates.
Fellowship PAC uses this system to support crypto-endorsement candidates in federal races with advertising money – the $3 million it already spent on advertising is a clear example of the latter.
Cantor Fitzgerald’s involvement is not a new relationship dressed up as apathy. The company has held Tether stock since 2021, putting it at the center of the world’s most important stablecoin project.
When Howard Lutnick, the CEO of Cantor, who is now the Secretary of Commerce of the US, faced the approval of the Senate, the legislators pressed him mainly on crypto relationships and their effects on the financial markets and the financial policy against terrorism.
Lutnick has been out every day; Cantor is now run by his sons. A $10 million donation follows this change, which makes it more meaningful to read the goals of the organization instead of reading the main character.
The company is making a deliberate bet that Washington’s pro-crypto agenda is worth paying big bucks for.
The purpose of the law is not clear. Congress is seriously debating stablecoins and Market structure for digital products under the CLARITY Actand PAC spending of this magnitude is focused on shaping who sits on the ballot.
Anchorage Digital’s donation of $1 million to the Fellowship reflects the same sentiment from the crypto-native banking side.
The powerful reading is simple: a $10 million check from the company that owns Cantor’s information that TradFi has moved from a watchdog to a political business.
This is not the same as the sound effects that come with any other schedule. PAC spending focuses on candidate selection and philanthropy, not writing laws or ensuring votes.
