Tether Paid $6.3M to Firm Tied to Former Adviser Bo Hines

Stablecoin issuer Tether reportedly paid approximately $6.3 million through a commercial arrangement involving a consulting firm co-owned by former White House cryptocurrency adviser Bo Hines, according to CryptoNews.

The initial payment of $2.49 million was transferred in May 2025 via cryptocurrency exchange Bitfinex while Hines was serving in the Trump administration and assisting with the advancement of the GENIUS Act. Hines retained a one-third ownership stake in the consulting firm, Nxum, which he co-founded with his father and another partner. Nxum and its representatives stated that Hines was not involved in dealings with Tether during his government service and did not receive funds derived from the company while working in the White House.

Legislative Negotiations and Compliance Periods

During negotiations over the GENIUS Act, which established federal rules for stablecoin issuers, Hines supported giving cryptocurrency platforms a 36-month compliance period to stop offering stablecoins that failed to meet new federal requirements. This was double the initial 18-month timeline favored by some lawmakers and US-based stablecoin firms, granting foreign issuers like Tether more time before restrictions applied.

Following his departure from the White House in August 2025, Hines joined Tether to oversee US stablecoin operations, taking charge of its USAT product launch in January 2026.

Key Facts

• Tether paid approximately $6.3 million through an arrangement involving Nxum, a consulting firm co-owned by Bo Hines.
• The first payment of $2.49 million was sent in May 2025 via Bitfinex.
• Hines served as executive director of the White House digital assets council from January to August 2025.
• Hines later joined Tether in August 2025 to lead its US stablecoin expansion.