Senate investigator probes Tether payments to Bo Hines firm
CIE News ·
Based on reporting by CoinDesk; not yet independently confirmed.
Senator Richard Blumenthal sent letters probing Tether's reported payments to Nxum Group, a consulting firm tied to former White House crypto adviser Bo Hines, according to CoinDesk.
U.S. Senator Richard Blumenthal sent inquiry letters on October 22, 2026, to Tether and consulting firm Nxum Group regarding business arrangements between the two entities. Blumenthal, the ranking Democrat on the Senate's Permanent Subcommittee on Investigations, questioned payments made to the firm co-founded by Bo Hines, who previously served as a White House crypto adviser and now leads Tether's U.S. branch, CoinDesk reported.
The inquiry follows a report that Nxum Group received consulting fees from Tether while Hines advised President Donald Trump on cryptocurrency policies, including rules impacting stablecoin issuers. Blumenthal claimed the business relationship raises ethical and legal questions regarding payments made to an active administration official with influence over relevant crypto legislation. Nxum Group had also reportedly earned millions as an advertising provider for a political action committee linked to Tether, according to CoinDesk.
Tether CEO Paulo Ardoino criticized the senator's inquiry, stating that Blumenthal ignored key context and gave materials to the media prior to offering Tether an opportunity to respond. Tether spokespeople did not immediately respond to requests for comment.
Key facts
- Letters sent Oct 22, 2026
- Probe into Tether and Nxum Group
- Hines was White House adviser
- Blumenthal leads Senate probe