US Senate investigates Tether's payment to Bo Hines company According to a report by Golden Finance, on October 23rd, Richard Blumenthal, the chief Democratic member of the United States Senate Permanent Subcommittee on Investigations, sent a letter on Thursday to Nnum Group, a consulting firm co founded by Tether and its US subsidiary CEO Bo Hines, requesting clarification on the relevant arrangements for Tether's payment to Nnum. According to The Wall Street Journal, while Bo Hines was still serving as the White House crypto advisor and involved in formulating crypto policies, including stablecoin issuers, Nxum received large payments for providing advisory services to Tether. In a letter to Tether CEO Paolo Ardoino, Blumenthal stated that the highly unusual terms and nature of Tether's business relationship with Nyum and Bo Hines raise serious ethical and legal concerns, implying that Tether may have been aware of the illegality and impropriety of making payments to a current White House official directly involved in shaping encryption legislation crucial to its business. A Tether spokesperson did not immediately respond to a request for comment. CoinDesk previously reported that Nyum, as the main campaign advertising provider for the political action committee associated with Tether, earned millions of dollars in revenue. The company had almost no political career record before and recently hired another White House crypto advisor, Harry Jung. Blumenthal has been keeping an eye on the cryptocurrency industry recently, including Trump's Meme coin, World Liberty Financial, Binance's activities, and especially Tether. He once released a report on Tether's financial ties with Iran and questioned its relationship with Cantor Fitzgerald, a US financial partner. Ardoino criticized Blumenthal this week for ignoring important information and sharing the report with the media without giving the company a chance to respond. The predicted market Kalshi shows a 69% probability that the Democratic Party will retake the Senate, and if Blumenthal takes over the subcommittee, he will gain greater control over subpoenas and agendas.