Tether, the world’s largest stablecoin, has paid $60,000 to hire the lobbying firm DMM Consulting, according to Senate disclosure forms.
DMM Consulting is led by Damian Merlo, an advisor to self-described dictator Nayib Bukele, the leader of El Salvador.
OpenSecrets data shows that Tether is the only firm that has hired the company for lobbying services.
Tether’s sister company, Bitfinex, was recently granted a digital assets license in El Salvador that will allow it to issue and sell tokenized securities. This could include the much-hyped “volcano bond.”
Merlo is also behind another lobbying firm, Latin America Advisory Group, which lobbies on behalf of the Office of the President of El Salvador.
The updated contract filed with the Department of Justice (DoJ) earlier this year reveals that El Salvador is paying this firm $390,000 over six months to lobby on behalf of Bukele.
Tether has maintained relationships with other lobbying firms, such as FTI Government Affairs, which received $240,000 from the company in 2023 and $480,000 in 2022.
It also retains the assistance of Continental Strategy, a firm led by Carlos Trujillo, the former U.S. ambassador to the Organization of American States.
Tether has paid the firm approximately $300,000, and it also lobbies on behalf of the Chamber of Industry of Guatemala.
https://protos.com/this-bukele-lobbyist-now-works-for-tether-too/
