Senate Democrat Probes Tether Payments to Ex-White House Crypto Adviser’s Firm
Sen. Richard Blumenthal has demanded records from Tether about payments to Nxum, a consulting firm co-founded by Bo Hines, who helped shape U.S. stablecoin legislation while serving in the White House and later became CEO of Tether’s U.S. division. A Wall Street Journal investigation reported that Nxum received $6.3 million through a Tether marketing arrangement, while Hines retained an ownership stake in the firm during his government service. The report also said Hines advocated a longer compliance window that benefited Tether. Blumenthal says the arrangement raises ethics, anticorruption and lobbying concerns and seeks details about a proposed Tether investment in Nxum. Tether says an internal investigation found no evidence of wrongdoing; Nxum says Hines received no Tether-derived funds while in government.
