US Senator investigates millions of dollars in payments from Tether to a company owned by former White House crypto adviser Bo Hines.

BlockBeats news, October 23 - Richard Blumenthal, the top Democrat on the U.S. Senate Permanent Subcommittee on Investigations, is investigating millions of dollars in payments by Tether to Nxum Group, a consulting firm founded by former White House crypto adviser Bo Hines, and has sent letters to Tether and Nxum demanding disclosure of the relevant business arrangements.

Previously, The Wall Street Journal disclosed that Nxum received substantial consulting fees from Tether while Hines was still serving as a White House crypto policy adviser. Blumenthal believes that Hines was directly involved in shaping stablecoin policies affecting Tether's business at the time, and the payments may involve legal and ethical issues. Hines currently serves as head of Tether's U.S. operations, and Tether has not yet responded to the investigation. (CoinDesk)