Tether-linked Super PAC's first spending raises conflict of interest questions

Fellowship, a U.S. Super PAC associated with Tether, the issuer of the world's largest stablecoin USDT, is facing conflict of interest allegations over its first expenditure of $300,000 to Nxum Group, a firm co-founded by Tether's U.S. CEO, Bo Hines. According to CoinDesk, Fellowship submitted its first spending report to the Federal Election Commission (FEC), detailing the payment. While the funds were reportedly used for advertising to support Georgia Republican House candidate Clay Fuller, concerns have been raised that funding a company established by a Trump associate could constitute a conflict of interest. In response, U.S. political reform group Issue One stated that Super PACs are not entirely prohibited from self-dealing and that the payment would not violate U.S. campaign finance law if it was made at a fair market price. Fellowship previously appointed Jesse Spiro, Tether's vice president of regulatory affairs, to lead the organization.