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Fellowship PAC Names Tether Regulatory Affairs Vice President Jesse Spiro as Chair

Fellowship PAC Names Tether Regulatory Affairs Vice President Jesse Spiro as Chair

Fellowship PAC appointed Tether U.S. regulatory affairs vice president Jesse Spiro as chair, creating the first public formal link between Tether and the super PAC as debate over CLARITY Act stablecoin provisions continues.

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Summary

Fellowship PAC appointed Tether U.S. regulatory affairs vice president Jesse Spiro as chair, marking the first public formal link between Tether and the pro-crypto super PAC. The update reiterates the scale of crypto-linked political fundraising, with Fellowship previously claiming more than $100 million and Fairshake reporting $193 million. Spiro’s appointment comes as debate continues over stablecoin yield provisions in the CLARITY Act ahead of the November midterm elections.

Terms & Concepts
  • stablecoin: A cryptocurrency designed to maintain a relatively stable value, often by being pegged to a fiat currency such as the U.S. dollar.
  • Super PAC: A U.S. political action committee that can raise and spend unlimited funds independently to support or oppose candidates.
  • Tether: A digital asset company best known for issuing a stablecoin, a cryptocurrency designed to maintain a fixed value.