Did a Trump Crypto Adviser Profit From the GENIUS Act? WSJ Report on Bo Hines and Tether

TLDR The Wall Street Journal reports that Bo Hines kept a one-third stake in Nxum while he was a White House crypto adviser. Nxum has received $6.3 million from a Tether deal, with the first payment made while Hines was in government. Hines pushed for a longer compliance window in the GENIUS Act, which helped Tether. A Nxum representative says Hines did not know about the Tether deal and received no Tether funds while in the White House. Tether did not respond to requests for comment, and the GENIUS Act takes effect in January 2027. The Wall Street Journal reported that a firm co-owned by former White House crypto adviser Bo Hines received millions of dollars from Tether while he worked on stablecoin legislation. The report was published Oct.

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