US Senator Questions Tether After Reported Deal Involving Ex-Adviser

Connecticut Sen. Richard Blumenthal has escalated a Senate investigation into Tether’s alleged relationships with a marketing company linked to former White House crypto adviser Bo Hines. The probe centers on claims that Tether entered into a $6.3 million marketing arrangement with Nxum, and that the dealings may have involved lobbying coordination around pending stablecoin legislation. In a letter to Tether CEO Paolo Ardoino, Blumenthal said the Senate Permanent Subcommittee on Investigations is requesting records and information covering contracts, payments, communications, and lobbying activity involving Tether and Nxum.