US Senate investigates transactions between Tether and White House advisors
2026-10-23 07:02:37
According to CoinMeta, as reported by Coindesk, Democratic Senator Richard Blumenthal of the Senate's Permanent Subcommittee on Investigations is investigating transactions in which Tether paid millions of dollars to Nxum Group, a consulting firm founded by former White House crypto advisor Bo Hines. Richard Blumenthal has also sent letters to Tether and Nxum requesting disclosure of related business arrangements. Previously, The Wall Street Journal revealed that Nxum received substantial consulting fees from Tether while still serving as a White House crypto policy advisor during Hines. Blumenthal believes that Hines was directly involved in formulating stablecoin policies that affected Tether's business at the time, and that these payments may involve legal and ethical issues. Hines currently serves as the head of Tether's U.S. operations, while Tether has not yet responded to this investigation.
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Source:CoinDesk
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