According to the Wall Street Journal, Tether paid approximately $6.3 million net to Nxum, the consulting firm co-founded by Bo Hines, while he was simultaneously leading the Presidential Council on Digital Assets and steering the GENIUS Act on stablecoins through the legislative process. The first transfer of $2.49 million was made in May 2025, three months before his departure from government on August 9. Signal messages cited by the WSJ show that he shared legislative updates on the GENIUS Act with associates, who then forwarded them to Tether CEO Paolo Ardoino. Bo Hines became Tether’s US CEO in September 2025, as the USDT issuer negotiates a reciprocity decision from the US Treasury for its stablecoin compliant with the very law he helped draft.
Source: Read the original article
