Tether US chief Bo Hines under scrutiny for stablecoin bill deal during Trump tenure

Bo Hines, who served as US President Donald Trump’s crypto adviser before joining Tether , allegedly maintained a one-third ownership in Nxum, an investment firm he co-founded, while advocating for stablecoin legislation in Washington. The Wall Street Journal reported that Nxum profited from a $6.3 million deal with Tether, the company responsible for the leading USDt (USDT) stablecoin, as the US Congress moved forward with regulating digital assets. The GENIUS Act, officially known as the Guiding and Establishing National Innovation for US Stablecoins Act, was under consideration as Hines pushed lawmakers to support stablecoin rules. According to reports, Nxum received its first payment from Tether while Hines was actively working at the White House.

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