U.S. Senator Richard Blumenthal asked Tether for records of payments of more than $6 million to Nxum, a consulting firm co-founded by Bo Hines, a former White House adviser involved in cryptocurrency policy. Tether reportedly paid Nxum $415,000 per month for lobbying, public relations and advisory services while Hines retained a one-third ownership stake and participated in discussions about the GENIUS Act. Blumenthal is seeking to determine whether those financial ties improperly influenced the stablecoin legislation signed in July 2025, including provisions granting foreign issuers additional time to meet U.S. regulatory requirements. The inquiry has not established any legal violation, but Blumenthal requested transaction records, cryptocurrency wallet addresses and communications by Nov. 6. The scrutiny comes as Tether expands USA₮ in the U.S. market and new OCC rules for stablecoin issuers are scheduled to take effect on Jan. 18, 2027.
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