Tether paid $6.3M to Bo Hines’ firm
Per exclusive reportage from WSJ, Tether despatched about $6.3 million to a consulting firm known as Nxum. Bo Hines co-founded it, and he owned a 3rd of it the entire time he was in authorities. Research is predicated on inside paperwork and cost information.
They shook arms in the summertime of 2025.
The first cost was, reportedly, whereas Hines was nonetheless on the White House. He was working as the chief director of its digital belongings council, which was from January to August 2025.
Where it will get attention-grabbing is that it was the identical time that Hines was pushing for the GENIUS Act, which was finally signed into legislation in July 2025.
Funnily sufficient, the largest stablecoin issuer available in the market is Tether, with USDT. That’s direct enterprise involvement.
Things moved quick from there, as Hines give up the White House in August, then joined Tether as an advisor quickly after.
And by September, he was operating their American operations!
Nxum denies the battle allegations
They firmly said that Hines had nothing to do with Tether whereas he was in authorities.
Nxum representatives say that Hines’ coverage push happened when he wasn’t lively in Nxum’s day-to-day.
So whereas he owned a chunk of the entity, he didn’t run it.
Will that be sufficient? That’s exhausting to say.
The complete thought behind the GENIUS Act was that it might present credibility to the asset class. This places us two steps again. Right now, Tether is making an attempt to develop within the US below the precise guidelines Hines labored for.
He’s main that push as effectively.
Final Summary
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- Tether paid about $6.3 million to Bo Hines’ Nxum, whereas he labored on the White House.
- Nxum has denied any appreciable involvement with Tether whereas Hines was with the federal government.
