The Wall Street Journal reports that Tether, the world’s largest stablecoin, partnered with Nxum Capital, an investment firm founded by Bo Hines and his father, for a strategic brand and public affairs plan. Nxum earned $6.3 million from this contract, including an initial $2.49 million payment sent via Bitfinex on May 11, 2025. Bo Hines was serving as executive director of the President’s Council of Advisers on Digital Assets under President Trump while exchanging Signal messages with his Nxum partners about the Genius Act bill. The Genius Act was signed into law in July 2025, Hines left the White House in August 2025, and was subsequently announced as CEO of USAT, the Tether-backed stablecoin.
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