Tether paid $6.3M to Bo Hines’ firm
Per exclusive reportage from WSJ, Tether sent about $6.3 million to a consulting firm called Nxum. Bo Hines co-founded it, and he owned a third of it the whole time he was in government. Research is based on internal documents and payment records.
They shook hands in the summer of 2025.
The first payment was, reportedly, while Hines was still at the White House. He was working as the executive director of its digital assets council, which was from January to August 2025.
Where it gets interesting is that it was the same time that Hines was pushing for the GENIUS Act, which was eventually signed into law in July 2025.
Funnily enough, the biggest stablecoin issuer in the market is Tether, with USDT. That’s direct business involvement.
Things moved fast from there, as Hines quit the White House in August, then joined Tether as an advisor soon after.
And by September, he was running their American operations!
Nxum denies the conflict allegations
They firmly stated that Hines had nothing to do with Tether while he was in government.
Nxum representatives say that Hines’ policy push took place when he wasn’t active in Nxum’s day-to-day.
So while he owned a piece of the entity, he didn’t run it.
Will that be enough? That’s hard to say.
The whole idea behind the GENIUS Act was that it would provide credibility to the asset class. This puts us two steps back. Right now, Tether is trying to grow in the US under the exact rules Hines worked for.
He’s leading that push as well.
Final Summary
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- Tether paid about $6.3 million to Bo Hines’ Nxum, while he worked at the White House.
- Nxum has denied any considerable involvement with Tether while Hines was with the government.
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