Tether/GENIUS Act Conflict-of-Interest Scandal
A congressional investigation has been launched after reporting revealed that Tether directed millions to a company co-owned by Bo Hines while he was leading the White House's GENIUS Act push — and then hired him as U.S. chief after the bill passed.
What we know
An account on X broke the scoop: Tether was steering millions to a consulting firm co-owned by Bo Hines while he served as the White House's crypto policy lead overseeing the GENIUS Act. Immediately after the bill passed, Tether hired him as its U.S. chief. Senator Blumenthal has since opened a formal investigation. This is the most significant crypto regulatory corruption story of the cycle given Tether's outsized stake in the GENIUS Act's outcome.
How the story developed
A congressional investigation has been launched after reporting revealed that Tether directed millions to a company co-owned by Bo Hines while he was leading the White House's GENIUS Act push — and then hired him as U.S. chief after the bill passed.
Senator Blumenthal is investigating Tether's multimillion-dollar payment to a consulting firm owned by a White House official who previously led crypto policy.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.