Senator probes Tether’s reported $6 million payments to ex-White House crypto adviser’s firm

On Oct. 22, Senator Richard Blumenthal, the ranking Democrat on the Senate Permanent Subcommittee on Investigations, demanded records from Tether about its reported multimillion-dollar payments to Nxum. Tether is a stablecoin issuer. Nxum is a consulting firm co-founded and co-owned by Bo Hines, a former White House crypto adviser. The Senate scrutiny focuses on the reported payments from Tether to the firm, and Blumenthal's request seeks records concerning those payments.