Tether paid millions to Bo Hines’ firm while he worked at the White House

Tether sent approximately $6.3 million to a consulting firm co-founded by Bo Hines, according to The Wall Street Journal. At least part of that money moved while Hines was still working in the White House. Hines later joined Tether and now runs its US operations. The sequence is drawing conflict-of-interest scrutiny, because Hines helped advance the stablecoin law that now governs companies like his new employer. What the Journal found The firm is called Nxum. The Journal reported that Hines co-founded it and held a one-third ownership stake throughout his time in government. Tether’s payments to Nxum came under a deal brokered in May 2025. The first payment landed while Hines still held his government post. His job at the time was executive director of the White House’s digital assets council, a role he held from January to August 2025. The Journal’s reporting draws on internal documents and payment records. During that same stretch, Hines was a prominent advocate for the GENIUS Act. The bill set federal rules for dollar-pegged stablecoins, and President Trump signed it into law in July 2025. Tether is the issuer of USDT, the largest stablecoin. A federal stablecoin framework ther...