Tether Facing Senate Investigation Involving 6 Million Dollars Paid to a Former White House Advisory Firm
2026-10-24 18:05:22
According to CoinMeta, Tether is facing investigation by the Senate due to payments of millions of dollars to the company of former White House crypto advisor Bo Hines. Senator Richard Blumenthal, the main Democrat on the Senate investigation team, has requested all contracts, payment records, crypto wallet addresses, and lobbying communications to be provided by November 6th. The investigation stems from a report by The Wall Street Journal, which stated that a arrangement involving Tether generated $6.3 million in income for NXUM, with payments beginning during the period when Hines retained a third of the shares and helped to draft the "Genius Act." Tether later hired him to lead its U.S. business. Blumenthal indicated that the arrangement may involve violations of federal ethics, anti-corruption, and lobbying laws. Tether stated that an external legal counsel's investigation did not find any improper conduct. This review has escalated from a media investigation to a formal Senate record request.
Source:Internet
This content is for market information only and does not constitute investment advice.
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