FEC Filings Show Fellowship PAC Paid Nxum Group LLC $6.55 Million in Five Disbursements, Jan. 21 to Apr. 9, 2026, Reported as Advertising

FEC bulk operating-expenditure data (Schedule B, line 21B) lists five disbursements from Fellowship PAC (committee C00915181, a committee registered with the FEC as a PAC, treasurer Mitchell Nobel) to NXUM GROUP LLC of Dover, Delaware. Amounts and transaction dates: $1,000,000 (Jan. 21, 2026), $2,000,000 (Jan. 26), $2,000,000 (Apr. 7), $300,000 (Apr. 7) and $1,250,000 (Apr. 9). They total $6,550,000, matching the figure a secondary relay gave. The January rows are in the Q1 2026 report (file 1963591); the April rows are in the May monthly report (file 1977948). Stated purposes are “issue advocacy advertising” for three rows, “advertising” for one and “pre-payment advertising” for one; all carry FEC category 004, Advertising Expenses. All five rows are original filings (amendment indicator N). Nxum is the only payee above $20,000 among the committee’s ten operating-expenditure rows in the 2026 file (the other five rows total about $46,600: compliance consulting, legal, a legal-research subscription). The 2024-cycle file holds no rows for the committee.

What the filings do not show: who Nxum’s principals are, what Nxum did with the money, or any link to the Tether payments described in 2026-10-14–wsj-nxum-hines-one-third-stake-tether-payments-genius-act. The Nxum named in that reporting and the Nxum Group LLC of Dover, DE in these rows share a name only; this entry does not establish they are the same entity. Data are from the bulk file downloaded Oct. 15, 2026 (file dated Oct. 11); later reports may add rows. The FEC document-query pages returned 403 and the OpenFEC API was rate-limited to the shared demo key, so the images were not viewed.