Tether’s $6.3M payments to Hines-linked firm draw scrutiny

Tether paid about $6.3 million to Nxum, a consulting firm co-founded and partly owned by former White House official Bo Hines. The first reported payment was made while Hines was still in government, raising questions about the timing of his policy work on stablecoin legislation and his later role at Tether.

The payments were made under an agreement reached in the summer of 2025, according to internal documents and payment records. Hines owned one-third of Nxum throughout his government service. He served as executive director of the White House digital assets council from January through August 2025.

During that period, Hines supported the GENIUS Act, which established a federal framework for payment stablecoins. The law was signed in July 2025 and set requirements for issuers such as Tether, the largest stablecoin company by market share.

Hines left the White House in August 2025 and joined Tether as an adviser soon afterward. By September, he was leading Tether’s U.S. operations, including its expansion in the American market under the new regulatory framework.

Nxum has denied that Hines had a significant role in its work for Tether while he was in government. Representatives for the firm said he was not involved in its day-to-day operations during his White House service.

Hines retained his ownership interest in Nxum while working on legislation that affected Tether and other stablecoin issuers. The available documents and statements do not establish that Hines worked for Tether personally while he was in government.