Senate Democrat Probes Tether Payments to Ex-White House Adviser’s Firm

Tether payments — U.S. Senator Richard Blumenthal has launched an investigation into payments made by Tether to a consulting firm co-founded by Bo Hines, a former White House crypto adviser who later became Tether’s top U.S. executive.

The ranking Democrat on the Senate Permanent Subcommittee on Investigations sent letters to both Tether and the firm, Nxum, seeking information about the payments. The probe follows reports that Hines’ firm received millions of dollars while he was still advising the White House on stablecoin policy.

Hines served as a crypto adviser in the Trump administration before being appointed CEO of Tether’s U.S. operations. The investigation examines potential conflicts of interest between his government role and his private business dealings with the world’s largest stablecoin issuer.

This marks the latest in a series of crypto-focused investigations led by Senator Blumenthal, who has been actively scrutinizing the digital asset industry. The subcommittee’s inquiries often focus on market integrity and consumer protection within the crypto sector.