Senator probes Tether’s reported $6 million payments to ex-White House crypto adviser’s firm
Senator Richard Blumenthal has requested records from Tether about more than $6 million in reported payments to Nxum, a consulting firm co-owned by former White House crypto adviser Bo Hines. The inquiry examines whether payments and lobbying overlapped with Hines’s work on the GENIUS Act, including provisions affecting foreign stablecoin issuers such as Tether. Blumenthal seeks transaction records, wallet addresses, communications, and information on a reported possible Tether investment in Nxum. The inquiry has not established wrongdoing, and the records request comes from the Senate subcommittee’s Democratic minority. Hines later became CEO of Tether’s US stablecoin business; Tether launched USA₮ in January 2026. New OCC stablecoin regulations take effect in January 2027.
