Tether Transfers Millions to Bo Hines' Company Amid Stablecoin Bill Push

ChainCatcher report, according to The Wall Street Journal, stablecoin issuer Tether transferred millions of dollars to Nxum, a company co-owned by Bo Hines, during the period when Hines advocated for the Genius Act on Capitol Hill. After the bill passed, Tether hired Hines as head of its U.S. operations. In July 2025, the congressman and corporate executives watched Trump sign the Genius Act in the East Room of the White House. The bill establishes regulations for the sale of dollar-pegged stablecoins. When Trump thanked the bill’s drafters, he asked where Bo Hines was; the 29-year-old presidential crypto advisor stood up from the front row and received applause. The Wall Street Journal states that these findings are based on its review of communications, internal documents, and payment records. Hines’s Signal messages show that while serving in the White House, he remained active in group chats with company partners, discussing legislative progress and relaying key talking points from the Genius Act negotiations; during the same period, his partners communicated directly with Tether’s CEO.