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Senator Investigates Tether’s Payments to White House Cryptocurrency Advisor’s Firm
Sen. Richard Blumenthal (D-Conn.) has launched an investigation into Tether’s reported multimillion-dollar payments to a consulting firm co-owned by former White House cryptocurrency adviser Bo Hines. The investigation raises concerns about potential conflicts of interest and violations of federal ethics and lobbying laws. Tether agreed to pay Nxum, a consulting firm co-founded by Hines, $415,000 monthly for strategic communications, lobbying, and public relations services. Blumenthal alleged that Hines coordinated with Nxum through encrypted messaging applications while advocating for provisions in the GENIUS Act, a stablecoin legislation signed into law in July 2025. The senator questioned Tether’s unusual payment arrangements, which involved routing cryptocurrency payments through another marketing firm before being distributed to Nxum’s owners.