Blumenthal Seeks Tether Records on $6 Million Paid to Bo Hines' Firm

Sen. Richard Blumenthal, the top Democrat on the Senate Permanent Subcommittee on Investigations, demanded records from Tether and Nxum Group in letters dated Oct. 22, asking the stablecoin issuer's CEO, Paolo Ardoino, and the consulting firm cofounded by former White House crypto adviser Bo Hines to turn over contracts, payment records and communications. The letters state that Tether agreed in May 2025 to pay Nxum $415,000 a month, with more than $6 million ultimately flowing to the firm while Hines held a one-third stake and worked on stablecoin legislation. Both have until Nov. 3 to comply.