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Tether and Bo Hines conflict of interest investigation

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2026-10-23 22:50 UTC → 2026-10-24 09:22 UTC · added ~~removed~~

Investigations have emerged regarding potential conflicts of interest involving Tether and Bo Hines, a former White House cryptocurrency adviser. Reports indicate that Tether paid approximately $6.3 million to Nxum, a consulting firm co-founded by Hines, through a marketing intermediary. Hines served as the executive director of the President’s Council of Advisers on Digital Assets during the development and passage of the GENIUS Act in July 2025. While Hines had stepped back from daily operations at Nxum in early 2025, ethics disclosures show he maintained a one-third stake in the firm. Following his departure from the White House in August 2025, Hines was hired in September 2025 to lead Tether’s new U.S. division. ~~In response to these findings,~~ Senator Richard ~~Blumenthal has requested that Tether provide detailed records to~~ Blumenthal, through the Senate Permanent Subcommittee on ~~Investigations. The inquiry seeks~~ Investigations, is seeking documentation regarding contracts, payments, and communications ~~between Tether and Nxum~~ to ~~investigate~~ determine if there were improper financial ties or lobbying coordination between ~~cryptocurrency firms~~ Tether and ~~individuals who~~ Nxum while Hines influenced ~~government~~ federal policy. Tether has responded to the allegations, stating that an internal investigation conducted by external counsel found “no evidence of wrongdoing.” The company is currently reviewing the senator’s formal request for records.

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