Bo Hines' $6.3 Million Deal with Tether Under Investigation

Donald Trump's former cryptocurrency advisor Bo Hines' company, Nxum, generated approximately $6.3 million from its deal with Tether during stablecoin regulations in the U.S. Hines played a significant role in shaping digital asset policies at the White House and maintained a one-third ownership stake in Nxum while working for the passage of the GENIUS Act. During his time at the White House, Hines continued to communicate with his partners at Nxum and shared information about developments in the GENIUS Act. Additionally, it was alleged that some Republican lawmakers pressured Trump to take action against Hines. Hines supported extending the compliance period for stablecoin companies. This situation has reignited discussions about conflicts of interest related to cryptocurrency regulations. Hines denied allegations that he was aware of transactions with Tether while serving in the government. Hines left the White House after the GENIUS Act was signed in July 2025 and joined Tether as a strategic advisor in August 2025. The GENIUS Act aims to create a federal regulatory framework for stablecoin issuers in the U.S., with an effective date set for 2027.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.