US Senator Probes Tether Over Deal with Former Trump Crypto Adviser

A Democratic senator is demanding records from Tether's CEO regarding a reported deal with a firm founded by an ex-White House crypto adviser.

US Senator Richard Blumenthal has launched an inquiry into stablecoin issuer Tether, seeking answers and documents regarding its financial ties with a firm founded by a former crypto adviser in the Trump administration, news outlets The Block and Cointelegraph reported.

Blumenthal, the ranking Democratic member of the Senate Permanent Subcommittee on Investigations, approached Tether chief executive Paolo Ardoino requesting records related to a reported deal between Tether and Nxum. The firm was founded by Bo Hines, who served as a crypto adviser in the Trump White House.

Further details regarding the scope of the transaction or the company's response have not yet been released.