A new investigation reports that former White House crypto adviser Bo Hines helped shape a stablecoin law while, at the same time, a consulting firm he co-owned received millions of dollars from Tether, the industry\u2019s biggest player. Hines then joined Tether\u2019s new U.S. division shortly after leaving the government.\u00a0<\/p>\n
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The investigation, conducted by the Wall Street Journal<\/em>, found that Nxum, a consulting firm Hines cofounded in 2022, earned $6.3 million under a deal to develop a \u201cstrategic brand and public affairs plan\u201d for El Salvador-based Tether. Payments began while Hines, then 29, was leading the White House push for the GENIUS Act, a law regulating stablecoins, or dollar-pegged cryptocurrencies. He reportedly stepped back from managing the firm when he joined the administration but kept his one-third ownership stake.\u00a0<\/p>\nHines left the White House weeks after President Donald Trump signed the bill into law in July 2025. Tether hired him the following month to lead its new U.S. division, as the company continued paying millions to Nxum, according to the Journal<\/em>.<\/p>\nThe controversy surrounding Hines adds to scrutiny of potential conflicts of interest between the Trump administration\u2019s crypto policies and the private business interests of the president and his advisers. Trump has championed the industry and pushed Congress to pass crypto legislation while his family has launched ventures including his namesake memecoin and World Liberty Financial, a decentralized finance platform. His latest financial disclosure revealed $1.4 billion in crypto-related wealth, largely tied to those two ventures, Fortune<\/em> reported in July.<\/p>\nHines cofounded Nxum in 2022 with his father, Todd Hines, and marketing executive Gary Dennis, with each partner holding equal ownership stakes. The small firm presented its business as spanning media, consulting and investments. Beyond the three founders, its website reportedly listed just one employee: chief investment officer Nav Singh, who was sentenced to 21 months in prison in 2018 after pleading guilty to fraud in a bribery case involving New York\u2019s state pension fund.<\/p>\n
Nxum\u2019s work ahead of the 2024 election included helping create Restore the Republic, a Trump-themed memecoin. It also contributed $1 million in billboard ads to MAGA Inc., a super PAC supporting Trump.<\/p>\n
A potential Tether deal took shape in April 2025, when Peter Vincer, a marketing entrepreneur who had worked with Nxum on previous business deals, arranged for Todd Hines and Dennis to meet Tether CEO Paolo Ardoino near Central Park in New York, per the Journal<\/em>. Bo Hines was then working to advance the GENIUS Act from inside the White House.<\/p>\nVincer reportedly followed up with a draft \u201cTether Comprehensive Brand Plan\u201d proposing that Nxum oversee \u201cstrategic lobbying and a full scale public relations and media awareness campaign\u201d for the stablecoin issuer.<\/p>\n
The final agreement omitted references to lobbying, with Vincer\u2019s agency, Notorious, signing the contract with Tether as an intermediary for Nxum. But Nxum was expected to perform the work: a planning document stated that \u201cNxum will engage all necessary parties and lead the entire process,\u201d the Journal<\/em> reported.<\/p>\n<\/div>\n#Trumps #top #crypto #adviser #faces #scrutiny #allegations #firm #accepted #millions #Tether #shaped #key #stablecoin #law<\/p>\n","protected":false},"excerpt":{"rendered":"
A new investigation reports th… <\/p>\n","protected":false},"author":1,"featured_media":6817,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[5174,6424,3854,1014,1009,1765,808,2559,1622,3690,1559,6771,7610,4782,187,277],"class_list":["post-6816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-accepted","tag-adviser","tag-allegations","tag-crypto","tag-cryptocurrency","tag-faces","tag-firm","tag-key","tag-law","tag-millions","tag-scrutiny","tag-shaped","tag-stablecoin","tag-tether","tag-top","tag-trumps"],"yoast_head":"\n
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