Senator Richard Blumenthal said he sent letters seeking records from Tether and Nxum Group over reported payments to the consultancy and possible ethics concerns. The inquiry is not a finding of wrongdoing. It concerns potential conflicts of interest in policymaking, not the backing or technical operation of USDT.
Blumenthal’s letter cites Wall Street Journal reporting alleging that more than $6 million was paid to Nxum under a strategic communications and public affairs arrangement. Nxum is associated with Bo Hines, who previously led the White House Council of Advisers for Digital Assets. Blumenthal requested records on contracts, payments, communications and lobbying activity; the inquiry itself does not imply a change to USDT redemption terms or reserve assets.
