According to The Wall Street Journal, Tether sent approximately $6.3 million to Nxum, a consulting firm co-founded by Bo Hines. At least part of that money moved while Hines was still working in the White House as executive director of the digital assets council. Hines later joined Tether and now runs its US operations. During his time in government, Hines was a prominent advocate for the GENIUS Act, a bill setting federal rules for stablecoins signed into law in July 2025. This sequence is drawing conflict-of-interest scrutiny, given that Hines helped advance legislation now governing companies like his new employer.
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