Senator Richard Blumenthal has asked Tether to explain, by November 3, an alleged $6.8 million payment to Nxum Group, co-founded by Bo Hines, former crypto adviser to the White House. He requested all payments to Hines between January and August 2025, the wallet addresses used and documentation of Nxum’s lobbying activities. Tether denied the allegations and said an internal investigation conducted by outside counsel found no evidence of wrongdoing. Meanwhile, USDT users surpassed 700 million in the third quarter, representing 6% growth, while holders of more than $70 billion account for 39% of the supply.
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