Senator Probes Tether’s Reported $6M Deal With Firm Tied to Ex-Trump Crypto Advisor

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, raising concerns about potential conflicts of interest and violations of federal ethics and lobbying laws. In an Oct. 22 letter to Tether CEO Paolo Ardoino, Blumenthal demanded records detailing the stablecoin issuer’s relationship with Nxum, a consulting firm co-founded by Hines, following a Wall Street Journal investigation that revealed the company allegedly received approximately $6.3 million from Tether while Hines helped shape crypto policy for President Donald Trump. According to the Journal, Tether agreed in May 2025 to pay Nxum $415,000 monthly for strategic communications, lobbying, and public relations services.

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