Tether paid over $6m to Bo Hines-linked consultancy Nxum, WSJ reports

The story so far: Tether payments to Bo Hines-linked firm

The Wall Street Journal reported Tether paid over $6m to Nxum, a consultancy co-founded by former White House crypto adviser Bo Hines, while he pushed the GENIUS Act. Senator Richard Blumenthal has now written to Tether and Nxum seeking details of the alleged payments.

1. 15 Oct 202602:54 UTC

   Tether paid over $6m to Bo Hines-linked consultancy Nxum, WSJ reports

   The Wall Street Journal, citing internal documents, messages and payment records, says Tether paid more than $6m to Nxum, a consultancy co-founded and part-owned by former White House crypto adviser Bo Hines, while he pushed the GENIUS Act. Hines left in August and became CEO of Tether's US stablecoin business in September, raising conflict-of-interest questions.

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2. 22 Oct 202623:08 UTC

   Richard Blumenthal probes alleged Tether payments to Bo Hines-linked firm

   US Senator Richard Blumenthal has written to Tether and Nxum Group, a consulting firm co-founded by former White House crypto adviser Bo Hines, seeking details of alleged payments from Tether to Nxum. Blumenthal, the top Democrat on the Senate Permanent Subcommittee on Investigations, called the alleged arrangements highly unusual in a letter to Tether CEO Paolo Ardoino.

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