Senate Democrat Probes Tether Payments to Ex-White House Crypto Adviser’s Firm

What happened: Sen. Richard Blumenthal asked Tether CEO Paolo Ardoino for records on Tether's dealings with Bo Hines and his consulting firm Nxum, with a Nov. 3 deadline. Why it matters: Blumenthal wrote that the payment structure implicates federal ethics, anticorruption, and lobbying laws. Tether said external counsel found no evidence of wrongdoing. A Nxum representative said Hines wasn't involved in the deal and received no Tether-derived funds while in government. Coverage: 3 outlets in 24h

Sen. Richard Blumenthal asked Tether CEO Paolo Ardoino for records on Tether's dealings with Bo Hines and his consulting firm Nxum, with a Nov. 3 deadline.

Blumenthal wrote that the payment structure implicates federal ethics, anticorruption, and lobbying laws. Tether said external counsel found no evidence of wrongdoing. A Nxum representative said Hines wasn't involved in the deal and received no Tether-derived funds while in government.