Sen. Blumenthal Requests Tether Records Over Reported Nxum Payments Linked to Bo Hines

Sen. Richard Blumenthal, the ranking member of the Senate Permanent Subcommittee on Investigations, has requested records from Tether concerning its reported business relationship with Nxum, a firm co-founded by former White House crypto adviser Bo Hines.

The October 22 request was addressed to Tether CEO Paolo Ardoino. It seeks information on dealings involving Nxum, Hines and associated parties, including contracts, payments and communications.

The request is a congressional demand for records as part of an ongoing minority inquiry. It does not constitute an enforcement action and does not establish that Tether, Nxum, Hines or any other party committed wrongdoing.

Blumenthal asked Tether to provide its response by November 3, 2026. The records sought could clarify the nature and scope of the reported commercial relationship cited in the letter.

Records sought in the inquiry

The letter requests documents and communications related to agreements between Tether and Nxum, as well as payment information and cryptocurrency wallet addresses associated with relevant transactions.

Blumenthal also requested records concerning lobbying activity, potential investment by Tether in Nxum, and dealings involving the intermediary firm Notorious. The breadth of the request extends beyond payments to the commercial and policy-related contacts described in the inquiry.

The request places the matter in a congressional oversight context rather than presenting a conclusion about the underlying allegations.

• Contracts and other agreements involving Tether and Nxum
• Payment details and associated cryptocurrency wallet addresses
• Communications involving Tether, Nxum, Bo Hines and related parties
• Lobbying records, potential investment information and dealings involving Notorious

Reported payments and policy concerns

Blumenthal’s letter references reporting that more than $6 million flowed from Tether to Nxum. It also cites allegations that Hines retained a one-third stake in Nxum while working on stablecoin policy.

Those details are allegations and reported claims cited in the letter, not findings independently established by the subcommittee’s records request. The inquiry appears intended to obtain documents that may help assess those assertions.

For related coverage of the request, see the internal report titled Sen. Blumenthal Seeks Records on Alleged Tether Payments to Nxum.

Tether’s reported response

Tether told The Block that external counsel had previously conducted an internal investigation and found no evidence of wrongdoing, according to that publication’s report.

That reported statement is Tether’s position and does not resolve the Senate inquiry. The company’s response to the requested records, if submitted, may provide additional detail about the relationships identified by Blumenthal.

The development comes as Tether continues to pursue other stablecoin-related initiatives, including its memorandum of understanding with Kazakhstan’s central bank to explore a tenge stablecoin.

Continue reading: Sen. Blumenthal Seeks Records on Alleged Tether Payments to Nxum on BTCNews.

Continue reading: memorandum of understanding with Kazakhstan’s central bank to explore a tenge stablecoin on BTCNews.

Sources

• U.S. Senate Permanent Subcommittee on Investigations: Letter from Sen. Blumenthal to Tether CEO Paolo Ardoino
• The Block: Sen. Blumenthal seeks answers from Tether over payments to firm founded by ex-White House crypto adviser
• Unchained: Blumenthal Asks Tether to Detail Every Payment to Nxum, Bo Hines' Consulting Firm

Our creator. Creates amazing NFT collections! Support the editor - Bitcoin_Man(TON) / Bitcoin Man Stickers(TON) / BM Numbers (TON) / Comics Book (TON) / Bitcoin_Man (ETH)

Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.

Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).

Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)

Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)