GOP lawmakers urge Tether shareholder Lutnick to halt crypto PAC donation

U.S. Republican lawmakers have urged Commerce Secretary Howard Lutnick to halt a new funding plan by the crypto super PAC Fellowship PAC, Axios reported. The PAC, which is supported by the Lutnick family's investment bank Cantor Fitzgerald, recently announced plans to provide $1.75 million in support to Texas Attorney General Ken Paxton. Lutnick serves as CEO of Cantor Fitzgerald, which is known to be a major shareholder in Tether. This connection has previously raised concerns about potential conflicts of interest with the crypto industry. Republicans have reportedly called the planned donation a "foolish political mistake" and urged Lutnick's side to prevent it, though it is unconfirmed whether any action has been taken.