Tether’s $6.3 Million Deal Raises Questions Over Former Trump Crypto Adviser

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TL;DR: Reporting about a consulting arrangement involving Tether and a firm associated with former White House crypto adviser Bo Hines has raised questions about conflicts of interest. Hines’ representatives dispute wrongdoing, and the reporting does not establish a criminal offence. A reported $6.3 million consulting arrangement has renewed questions about the relationship between stablecoin issuer Tether and former White House digital asset adviser Bo Hines. An October 15 investigation examined payments involving Nxum, a company in which Hines held an ownership interest, during a period when he was involved in US cryptocurrency policy. Hines participated in work surrounding federal stablecoin legislation, including the GENIUS Act. The Potential Conflict The reporting described how policy changes concerning foreign stablecoin issuers could have affected businesses such as Tether. One issue was the proposed transition period for firms to comply with the new US framework. A longer adjustment period could be advantageous to companies already operating substantial overseas stablecoin bu...