Tether appointed Hines as its U.S. chief on August 19, 2025, ten days after he left the White House. Nxum has denied that Hines was aware of the payments or received any of the funds from the deal while serving in government. The conflict centers on whether Hines's role in tailoring the law for its primary beneficiary directly led to the subsequent financial arrangements and his executive role at the company.
Tuesday, October 20, 2026
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Tether Paid $6.3M to Firm Co-Owned by White House Official Who Pushed Genius Act
Crypto5 days ago
A former White House aide shaped the stability and compliance rules of the Genius Act while his own consulting firm received millions in payments from Tether. Bo Hines led the administration's efforts to pass the legislation and reportedly advocated for a 36 month compliance window, which was double the 18 month period requested by Democrats. During this time, Tether paid $6.3 million to Nxum, a consulting firm in which Hines held a 33% stake, according to The Wall Street Journal.
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