WSJ: Tether Channeled Millions to Bo Hines' Company

According to The Wall Street Journal, stablecoin issuer Tether funneled millions of dollars to Nxum, a company co-owned by Bo Hines, while Hines pushed the Genius Act stablecoin bill at the White House. After the bill passed, Tether hired Hines as head of its U.S. operations. In July 2025, lawmakers and executives watched from the East Room as Trump signed the Genius Act, which sets rules for sales of dollar-pegged stablecoins. As Trump thanked the bill's drafters, he asked where Bo Hines was, and the 29-year-old presidential crypto advisor rose from the front row to applause. The Journal said the situation was based on messages, internal documents, and payment records it reviewed. Hines' Signal messages showed that during his White House tenure, he remained active in group chats with company partners, discussing legislative progress and relaying Genius Act talking points, while his partners communicated with Tether's CEO during the same period.