stable coins
By Dan Saada
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Cantor's Tether Connection Goes Back Years. Cantor Fitzgerald didn't just wake up one day and decide to care about crypto.
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What the Money Actually Buys. Ten million doesn't directly write laws. But it buys access.
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Cantor Fitzgerald just dropped $10 million into Fellowship PAC. The money showed up in Federal Election Commission filings this week. Jesse Spiro chairs the PAC—he's Tether's U.S.
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The donation landed in February, but the paperwork only surfaced Wednesday. Fellowship PAC pulled in $11 million total when you count other donors.
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Fellowship PAC is new—it started up in 2025. But it's already playing in the big leagues. The group locked down over $100 million in commitments before the last election cycle.
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Cantor Fitzgerald didn't just wake up one day and decide to care about crypto. The firm's been custodian for Tether's reserve assets since 2021. That's a big deal.
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Howard Lutnick used to run Cantor. He's U.S. Secretary of Commerce now. Senators grilled him about the firm's crypto ties during his confirmation hearings.
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The timing matters. Congress is debating the CLARITY Act right now. That bill tackles stablecoin regulation and how digital asset markets should work.
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Ten million doesn't directly write laws. But it buys access. It funds campaigns for candidates who think crypto needs lighter regulation.
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The PAC also put $1.5 million behind specific Republican candidates. Morris and Fuller are two names that came up in the filings.
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Jesse Spiro runs the PAC, and he's Tether's top government affairs guy in the U.S. That's not a coincidence. Tether has a massive interest in how stablecoin regulation shakes out.
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Traditional finance firms used to watch crypto from the sidelines. Not anymore. Cantor's $10 million signals a shift from observation to active investment in political outcomes.
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Anchorage Digital joining in shows crypto-native companies are coordinating with traditional finance. Anchorage isn't some startup—it's a federally chartered digital asset bank.
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Fellowship PAC is competing with other crypto PACs for influence. Fairshake raised huge sums last cycle. Defend American Jobs did too.
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The $100 million in commitments Fellowship PAC secured before the last election cycle shows big players are serious.
The Currency Analytics
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