US Senator Investigates Tether's $6.3 Million Payment to Firm Owned by Former White House Crypto Advisor

Odaily Report: U.S. Senator Richard Blumenthal has launched an investigation into stablecoin issuer Tether's payment of approximately $6.3 million to consulting firm Nxum. Nxum was co-founded by former White House cryptocurrency advisor Bo Hines, who holds a one-third equity stake in the company.

On October 22, Blumenthal sent a letter to Tether CEO Paolo Ardoino requesting contracts between the two parties, cryptocurrency payment records, wallet addresses, and communications. Tether is alleged to have paid Nxum $415,000 per month since May 2025 for strategic communications, lobbying, and public relations services.

Blumenthal noted that while serving as Executive Director of the White House Digital Assets Advisory Council, Bo Hines still held equity in Nxum and coordinated affairs with the company through encrypted messaging applications. He also questioned whether Tether routed cryptocurrency payments through marketing firm Notorious before distributing funds to Nxum shareholders.

Tether began contracting directly with Nxum after August 2025 and hired Bo Hines to lead its newly established U.S. operations. Blumenthal has demanded that Tether, Nxum, and related individuals respond by November 6. The allegations have not yet resulted in any legal determination, and Tether has not publicly responded. (Bitcoin.com News)