According to Decrypt, Sen. Richard Blumenthal has formally requested that Tether provide internal records detailing any payments made to Nxum, a firm co-owned by former White House cryptocurrency adviser Bo Hines. The request was issued as part of an ongoing Senate investigation into financial transactions involving Tether and entities linked to former government crypto advisors.
Blumenthal, a member of the Senate Judiciary Committee, asked for documentation covering the period during which Nxum received funds from Tether, including amounts, dates, purposes stated in records, and details about the parties involved in the transactions. The senator did not specify a deadline for the response.
Nxum is identified as a firm co-owned by Bo Hines, who served as a crypto adviser to the White House during the prior administration. Tether Limited is a company that issues the USDT stablecoin and operates globally. The request seeks transparency around financial interactions between Tether and a firm associated with a former federal advisor in cryptocurrency matters.
The inquiry reflects growing Senate scrutiny of cryptocurrency firms’ relationships with individuals who have held government roles in digital asset policy. No details were provided regarding the scope of payments, the number of transactions, or prior communications between officials and Tether.
