PANews reported on October 29th, citing Bloomberg, that Tether CEO Paolo Ardoino stated in an interview that "everyone is unhappy with Fairshake" because it ultimately "became a puppet of a certain company," though he declined to name the company. This crypto political action committee emerged as a strong contender in the 2024 election, investing $133 million in candidates supporting cryptocurrency.

Only US companies can donate to US political campaigns, and Tether is headquartered in El Salvador. However, the company has announced plans to establish a US entity by the end of 2025, led by Bo Hines, a former Trump crypto official. Over the past year, several new cryptocurrency-focused political action committees have been established, with a stronger focus on Republican candidates. One of these is linked to Cantor Fitzgerald, a bank that works closely with Tether and is led by Trump's Commerce Secretary, Howard Lutnick. Ardoino stated that Tether is still in discussions with various PACs as it considers its political strategy.