Tether2026-10-24 01:12:45Sen. Richard Blumenthal probes Tether over $6.3 million paid to NxumU.S. Sen. Richard Blumenthal has opened an inquiry into roughly $6.3 million in payments from stablecoin issuer Tether to consulting firm Nxum, according to Odaily, citing Bitcoin.com News. Nxum was co-founded by former White House crypto adviser Bo Hines, who holds a one-third stake in the company. In a letter dated Oct. 22 to Tether CEO Paolo Ardoino, Blumenthal asked for contracts between the two sides, cryptocurrency payment records, wallet addresses, and related communications. The senator said Tether had been paying Nxum $415,000 per month since May 2025 for strategic communications, lobbying, and public relations work. He also raised questions about Hines retaining his equity stake in Nxum while serving as executive director of the White House Digital Asset Advisory Council, and about whether he coordinated with the firm through encrypted messaging apps. Blumenthal further questioned whether Tether routed crypto payments through marketing firm Notorious before funds were distributed to Nxum shareholders. Tether reportedly began contracting directly with Nxum after August 2025 and later hired Hines to lead its newly established U.S. business. Blumenthal asked Tether, Nxum, and related individuals to respond by Nov. 6. No finding of wrongdoing has been made, and Tether has not publicly responded.80
Tether2026-10-23 10:45:36Blumenthal Seeks Full Tether Payment Records Tied to Nxum and Bo HinesSen. Richard Blumenthal, the ranking member of the Senate Permanent Subcommittee on Investigations, sent letters on Oct. 22 to Tether and Nxum Group demanding records tied to payments the stablecoin issuer allegedly made to the consulting firm while former White House crypto official Bo Hines was involved in stablecoin policy work. The requests, addressed to Tether CEO Paolo Ardoino and Nxum CEO Todd Hines, set a Nov. 3, 2026 deadline and seek contracts, payment details, wallet information, and communications involving Nxum, Bo Hines, and related parties. The letters cite an Oct. 14 Wall Street Journal report saying Tether agreed in May 2025 to pay Nxum $415,000 per month and that more than $6 million moved from Tether to the firm overall. Blumenthal also raised questions about lobbying tied to the GENIUS Act, Nxum’s lack of lobbying registration with Congress, and whether Tether discussed buying a 25% stake in Nxum for $56 million. The inquiry also revisits Tether’s later hiring of Hines after he left the White House in August 2025.00
Tether2026-10-23 17:42:12US senator seeks Tether records over reported Nxum deal tied to former Trump crypto adviserSen. Richard Blumenthal, the top Democrat on the Senate Permanent Subcommittee on Investigations, has asked Tether CEO Paolo Ardoino to turn over records tied to the company’s reported relationship with Nxum, a marketing firm co-founded by former White House crypto adviser Bo Hines. The request follows a Wall Street Journal report that said Tether entered into a $6.3 million deal with Nxum. In a letter sent Thursday, Blumenthal said the subcommittee is seeking documents covering contracts, payments, communications and lobbying activity between Tether and Nxum. He said the inquiry into Tether, Nxum and Hines forms part of a broader review of what he described as the Trump administration’s “self-enrichment and self-dealings with cryptocurrency firms.” Blumenthal also pointed to reported messages involving Hines and Nxum around lobbying tied to the GENIUS Act, a stablecoin bill, and said Ardoino had pushed Nxum to “obliterate” the bill’s opponents. The report also notes that Hines later joined Tether after leaving the White House, while another Trump-era crypto adviser, Harry Jung, went on to join Nxum. Cointelegraph said Tether did not immediately respond to a request for comment.00
Tether2026-10-22 23:08:56Sen. Richard Blumenthal presses Tether over payments to Nxum GroupSen. Richard Blumenthal, the top Democrat on the U.S. Senate Permanent Subcommittee on Investigations, sent letters on Thursday to Tether and Nxum Group seeking details about payment arrangements between the stablecoin issuer and the consulting firm co-founded by Bo Hines, the CEO of Tether’s U.S. subsidiary. According to The Wall Street Journal, Nxum received large payments for consulting work for Tether while Hines was still serving as a White House crypto adviser involved in shaping crypto policy, including rules affecting stablecoin issuers. In a letter to Tether CEO Paolo Ardoino, Blumenthal said the terms and nature of the relationship among Tether, Nxum and Hines raised serious ethical and legal concerns. He suggested Tether likely understood that paying a sitting White House official directly involved in shaping legislation important to its business could be improper or unlawful. Tether did not immediately respond to a request for comment. The report follows earlier CoinDesk coverage that said Nxum earned millions of dollars as the main campaign advertising vendor for a political action committee tied to Tether and had recently hired another White House crypto adviser, Harry Jung.20
Tether2026-10-22 23:19:33U.S. Senate panel probes Tether payment arrangement with Nxum GroupA U.S. Senate inquiry is focusing on payment arrangements between Tether and Nxum Group. Richard Blumenthal, the top Democrat on the Senate Permanent Subcommittee on Investigations, sent letters to both companies seeking details about the payments. The scrutiny centers on Nxum Group’s ties to Bo Hines, who helped found the firm and also serves as CEO of Tether’s U.S. subsidiary. According to the report, Nxum Group provided consulting services to Tether and received large payments while Hines was serving as a White House crypto adviser and taking part in crypto policy work. Blumenthal said the terms and nature of the business relationship raise serious ethical and legal concerns. A Tether spokesperson did not immediately respond to a request for comment.20
Tether2026-10-22 22:43:36Senate Democrat probes reported Tether payments to Bo Hines-linked firmU.S. Senator Richard Blumenthal, the top Democrat on the Senate Permanent Subcommittee on Investigations, has opened another inquiry tied to Tether, this time focusing on reported payments to Nxum Group, a firm co-founded by former White House crypto adviser Bo Hines. According to The Wall Street Journal, Nxum received large consulting payments from Tether while Hines was still advising President Donald Trump and his administration on crypto policy, including matters involving stablecoin issuers important to Tether. Blumenthal sent letters Thursday to both Tether and Nxum seeking details of those arrangements and said the relationship raised serious ethical and legal concerns. The senator argued in a letter to Tether CEO Paolo Ardoino that the company likely understood the impropriety of paying a sitting White House official who had a direct role in shaping cryptocurrency legislation relevant to its business. The move adds to Blumenthal’s broader scrutiny of crypto, which has also covered Trump’s memecoin, World Liberty Financial, Binance, Tether’s reported financial links to Iran, and its relationship with Cantor Fitzgerald. Tether did not immediately respond to requests for comment, while Ardoino separately criticized Blumenthal this week over how the senator handled an earlier report.30
Tether2026-10-22 22:49:21Senate Democrat Richard Blumenthal reviews Tether payments to Bo Hines-linked firmRichard Blumenthal, the top Democratic investigator in the U.S. Senate, is reviewing payments made by Tether to Nxum, a company tied to Bo Hines. CoinDesk had previously reported that Hines’ firm earned millions of dollars as the main campaign advertising vendor for a political action committee linked to Tether. The review adds to Blumenthal’s recent scrutiny of the crypto sector, which has included Donald Trump’s meme coin, crypto backers connected to the president’s projects, the Trump family’s crypto company World Liberty Financial, Binance, and Tether. Blumenthal had also issued a report examining Tether’s financial links to Iran and recently asked the company to explain its relationship with U.S. financial partner Cantor Fitzgerald. Tether CEO Paolo Ardoino criticized Blumenthal this week, saying the senator ignored important information and shared the report with the media before giving the company a chance to respond. If Democrats retake the Senate in November, Blumenthal could return as chair of the investigative subcommittee with broader subpoena and agenda-setting authority, and he has already said crypto would be a priority.20
White House c2026-10-19 14:16:14White House crypto council loses its last staffer as all four core members exit in 14 monthsPatrick Witt, executive director of the President's Council of Advisors for Digital Assets, left the White House on Oct. 14 after his detail expired, with no successor announced. His departure leaves the body commonly referred to as the White House crypto council without any remaining staff. Witt had been one of the main White House figures pushing the CLARITY Act, which failed a procedural Senate vote on Sept. 15 by a 49-50 margin and fell short of the 60-vote threshold. Before Witt, former executive director Bo Hines left in August 2025 and later joined Tether, White House AI and crypto czar David Sacks departed in March 2026, and deputy director Harry Jung exited in July 2026. The turnover means the council's four core members have all left within 14 months. The staffing vacuum now comes as the White House side no longer has an active point person for CLARITY Act negotiations, while the bill remains stalled in the Senate and DLA Piper has said a restart during the rest of the current session appears unlikely, with the next opening possibly not arriving until January 2027.140
