Senator Richard Blumenthal is investigating millions of dollars in consulting payments made by Tether to Nxum Group, a firm founded by former White House crypto adviser Bo Hines. The payments occurred while Hines was still advising the White House on crypto policy and now leads Tether's U.S. business. Blumenthal is concerned that Hines' dual role in shaping stablecoin policies and receiving payments from Tether may raise legal and ethical issues. He has sent letters to both Tether and Nxum Group requesting disclosure of their business arrangements. Tether has not yet commented on the investigation.
The investigation into Tether payments to Bo Hines’ consulting firm provides context for cryptocurrency market activity. For readers following digital assets, here is Pluang's market snapshot as of Oct 23, 2026 23:21 WIB: out of 50 major cryptocurrencies, 37 rose and 11 fell. Notable price changes include Balancer (BAL) up 11.14% at Rp16.297, EOS (EOS.IO) up 8.13% at Rp12.649, and COTI up 7.69% at Rp210 with a 62% sell order activity.
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