According to ChainCatcher, during his advocacy for the GENIUS Act, Bo Hines, former White House crypto advisor and co-founder and shareholder of the consulting firm Nxum, established a business relationship with Tether. Tether paid Nxum over $6 million, with the funds distributed among three partners. Although Hines had stepped back from Nxum’s day-to-day operations, he continued to discuss the bill with partners via Signal during his tenure. After the GENIUS Act was signed into law in July 2025, Hines resigned in August and was appointed CEO of Tether’s U.S. stablecoin business in September, raising questions about potential conflicts of interest.
Tether Paid Over $6 Million to Firm Linked to Former White House Crypto Advisor
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Summary
Tether paid over $6 million to Nxum, a firm co-founded by former White House crypto advisor Bo Hines, while he advocated for the GENIUS Act. The payments were distributed to three partners, with Hines stepping back from daily operations but remaining involved via Signal. After the bill passed in July 2025, Hines left Nxum in August and became CEO of Tether’s U.S. stablecoin business in September. The move has raised questions about potential conflicts of interest. This development is featured in today’s top crypto news.
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