US Senator Probes Tether’s $6.3M Deal with Ex-Trump Adviser Bo Hines

US Sen. Richard Blumenthal is seeking records from Tether CEO Paolo Ardoino regarding a reported $6.3 million contract between Tether and Nxum, a marketing company co-founded by former White House crypto adviser Bo Hines. The Democratic ranking member of the Senate Permanent Subcommittee on Investigations requested contracts, payments, communications and lobbying records connected to the deal.

Blumenthal said the inquiry is examining whether Tether coordinated with Nxum and Hines to influence the GENIUS Act, legislation designed to regulate stablecoins. According to the senator, encrypted messages showed Tether directly supporting Nxum’s lobbying campaign, including a statement attributed to Ardoino instructing the company to “obliterate” opponents of the bill. Blumenthal also alleged that Hines failed to divest his one-third stake in Nxum while serving in the Trump administration.

Hines served as executive director of the President’s Council of Advisers on Digital Assets from January to August 2025. After leaving the White House, he joined Tether as a strategic adviser and later became CEO of Tether US. Another former Trump administration crypto adviser, Harry Jung, left his government position in July 2026 and became an Nxum managing director the following month. Blumenthal characterized the arrangement as an example of alleged “self-enrichment and self-dealings with cryptocurrency firms” and said it raised ethical and legal concerns.

Tether said it was aware of the allegations and that external counsel found no evidence of wrongdoing following an in-depth internal investigation. The company’s response was added to the report on Oct. 23. The inquiry could intensify scrutiny of Tether’s lobbying relationships as Congress considers federal rules for stablecoin issuers.