Tether paid approximately $6.3 million to Nxum, a consulting firm co-founded by Bo Hines, while he was still working at the White House as executive director of its digital assets council from January to August 2025. Bo Hines owned a third of Nxum throughout his government tenure, and the first payment reportedly occurred while he was simultaneously pushing for the GENIUS Act, signed into law in July 2025. Nxum maintains that Hines was not involved in the firm’s day-to-day operations during his government service. Hines left the White House in August 2025, joined Tether as an advisor shortly after, and was running Tether’s US operations by September 2025. The potential conflict of interest lies in the fact that the world’s largest stablecoin issuer, Tether, now operates under the very rules Hines helped shape.
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