The Tether-backed pro-Trump new Super PAC, "Fellowship PAC," will allocate over $100 million to support pro-crypto policy candidates.

BlockBeats News, September 16th, according to The New York Times, the newly formed super PAC "Fellowship PAC" announced on Monday that it would spend over $100 million to support pro-crypto policy candidates. This is the latest move by the digital asset industry to overwhelm political opponents and push legislators to uphold industry interests in Washington.

Notably, compared to the current leading super PAC in the crypto industry, "Fairshake," this PAC is more inclined to ally with the Republican Party and former President Trump. According to filings, the Fellowship PAC's treasurer is an executive from Wall Street firm Cantor Fitzgerald, previously led by Commerce Secretary Howard Lutnick.

According to two sources familiar with the matter, supporters of this organization are expected to include the world's largest stablecoin issuer, Tether. This foreign company recently established a U.S. entity, allowing it to fund the super PAC. Tether has faced accusations of financial fraud and enabling platform crimes, but has recently actively engaged with the Trump administration, including hiring former Trump crypto advisor Bo Hines last month and closely collaborating with Cantor Fitzgerald, run by Lutnick's son.