In brief
- Sen. Richard Blumenthal asked Tether to hand over records on its dealings with Bo Hines and his consulting firm, Nxum, by Nov. 3.
- The Wall Street Journal reported that Nxum earned $6.3 million from a Tether deal struck while Hines, who kept a one-third stake, helped craft the GENIUS Act.
- A Nxum representative said Hines wasn’t involved in the deal and received no Tether-derived funds while in government.
Tether is facing fresh scrutiny in the Senate over millions of dollars that reportedly flowed to a firm co-owned by Bo Hines while he helped shape U.S. stablecoin law at the White House.
Sen. Richard Blumenthal, D-Conn., the top Democrat on the Senate Permanent Subcommittee on Investigations, sent Tether CEO Paolo Ardoino a…
