Bo Hines faces scrutiny over Tether deal during stablecoin law push

• Former White House crypto adviser Bo Hines co-owned Nxum while it secured a $6.3 million deal involving Tether.
• The payments began while Hines helped advance the GENIUS Act, which regulates US stablecoin issuers.
• Tether later hired Hines to lead its US division, raising questions about potential conflicts of interest.

Bo Hines, a former White House crypto adviser, co-owned Nxum while it secured a $6.3 million Tether deal, according to an exclusive report by The Wall Street Journal.

The consulting firm’s deal with Tether took shape in 2025, while Hines helped advance the GENIUS Act, which established US rules for dollar-pegged stablecoins.

The Wall Street Journal reviewed messages, internal documents and payment records showing Hines discussed legislative developments with Nxum partners during his White House tenure.

Hines retained a one-third stake in Nxum after stepping back from its daily management when he joined the administration.

The reporting also linked Hines to discussions about the GENIUS Act’s compliance timeline, including an extended period viewed as beneficial to Tether.

President Donald Trump signed the GENIUS Act into law in July 2025, and Tether subsequently hired Hines to lead its US division.

A representative for Nxum said Hines was unaware of the firm’s Tether dealings while in government and received no Tether-derived funds during that period.

The report raises questions about potential conflicts of interest in US crypto policymaking, but it does not establish that Hines broke any law.