Tether paid $6.3M to firm tied to former Trump crypto adviser Bo Hines: report

Tether has reportedly paid $6.3 million through an arrangement involving a consulting firm co-owned by former White House cryptocurrency adviser Bo Hines, with the first payment arriving while he was helping advance federal stablecoin legislation. Summary Tether reportedly paid approximately $6.3 million to a consulting firm partly owned by former White House cryptocurrency adviser Bo Hines. The first payment was made in May 2025, while Hines was serving in the Trump administration and helping advance the GENIUS Act. Hines retained a one third ownership stake in Nxum, although the firm denied that he was involved in its dealings with Tether during his government service. Hines left the White House in August 2025 and subsequently joined Tether, where he took charge of its US stablecoin operations. According to an October 15 investigation by The Wall Street Journal, the payments were connected to Nxum, a consulting firm Hines co-founded with his father and another business partner. Hines retained a one-third ownership stake in Nxum while serving as executive director of the White House’s digital assets council from January to August 2025. During that period, he worked on the GENIUS A...