Senator Richard Blumenthal asked Tether to provide records of its dealings with Bo Hines and Nxum, the consulting firm co-founded by the former White House adviser, by Nov. 3. The Wall Street Journal reported that Nxum earned $6.3 million from a deal struck with Tether in May 2025, while Hines retained a one-third stake and helped shape the GENIUS Act. The first payment reportedly passed through a marketing firm before being split three ways, while later payments went directly to Nxum after Hines left government. Tether said an internal investigation found no evidence of wrongdoing, while an Nxum representative denied that Hines was involved in the deal or received Tether-derived funds during his government service.
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