Tether Paid a Firm Owned by a Former White House Crypto Official, WSJ

A Wall Street Journal investigation alleges that Tether paid approximately $6.3 million to a consulting firm partly owned by Bo Hines while he served as a senior White House cryptocurrency official. Hines helped advance the GENIUS Act, legislation with major implications for Tether, before leaving government to become the stablecoin issuer’s U.S. chief executive. His firm Nxum, denies any improper involvement. A consulting firm partly owned by a senior White House cryptocurrency official reportedly collected approximately $6.3 million from Tether, even as that official helped shape legislation governing the stablecoin giant’s business. A comprehensive Wall Street Journal investigation by reporter Sam Kessler details how Bo Hines maintained a one-third ownership stake in Nxum while serving in President Donald Trump’s administration.

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