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
Tether2026-10-22 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.30
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.40
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.40
