Ex-Trump crypto adviser Bo Hines’ firm got $6.3M in Tether deal

Key points

• WSJ: Nxum, co-founded by Bo Hines, reportedly received $6.3M tied to a Tether deal
• First payment reportedly came while Hines was still in government
• Hines reportedly held a one-third stake in Nxum and updated partners on GENIUS Act
• Tether had not responded to Cointelegraph's request for comment

A company co-founded by Bo Hines, a former White House crypto adviser who now leads Tether’s U.S. business, reportedly received $6.3 million as part of a deal with the stablecoin issuer, with the first payment made while he was still in government. The claim comes from a Wall Street Journal report published Wednesday, as relayed by Cointelegraph. Tether had not responded to Cointelegraph’s request for comment when that report was published.

What the Journal reports about Nxum

According to the account, Hines kept a one-third stake in Nxum, an investment company he co-founded, while he advised President Donald Trump on crypto policy. Nxum reportedly received the $6.3 million under an arrangement with Tether, and the first installment was paid before Hines left government.

The Journal also reports that Hines kept in touch with Nxum partners over Signal, updating them on the GENIUS Act while he advised Trump. He reportedly urged them to describe Republican lawmakers who opposed the bill as “undermining the president.” The Journal’s original article is the primary source for these claims, and they are described here as the newspaper reported them.

Hines’ move from the White House to Tether

Hines was named executive director of the White House Crypto Council in December 2024 and stepped down in early August 2025 after about seven months, according to The Block. Tether announced him as its strategic adviser for digital assets and U.S. strategy on Aug. 19, 2025. Cointelegraph reports he became CEO of Tether’s U.S. arm the following month.

The Block’s coverage at the time credited Hines with helping pass the GENIUS Act, the federal stablecoin framework. Tether CEO Paolo Ardoino said the company’s U.S. plans were “well underway.”

The GENIUS Act and what comes next

The GENIUS Act was signed into law in July 2025, and Hines attended the signing, where Trump recognized him, Cointelegraph reports. The law still requires implementing rules from the Office of the Comptroller of the Currency, the FDIC, the Federal Reserve Board and the Treasury, and it takes effect in January 2027.

The report adds to scrutiny of ties between the Trump family and the crypto industry. Cointelegraph notes that Trump disclosed $1.4 billion in 2025 income from digital-asset investments, including millions from World Liberty Financial, the issuer behind the USD1 stablecoin. The outlet also pointed to other cases of regulators moving into industry roles, including former CFTC Commissioner Summer Mersinger, who left the agency to become CEO of the Blockchain Association.

It is not yet clear whether lawmakers or ethics officials will respond to the Journal’s findings, and no such action had been reported in the sources reviewed.