Ex-Trump adviser Hines kept stake in firm that profited from stablecoin bill
AI-generated briefing · First published
WSJ reports Bo Hines retained a one-third stake in Nxum while pushing the GENIUS Act; Nxum received $6.3 million from Tether during his White House tenure.
The Wall Street Journal reported that Bo Hines, former crypto adviser to President Donald Trump, kept a one-third stake in investment firm Nxum while advocating for the GENIUS stablecoin bill. Nxum received $6.3 million from Tether, with the first payment arriving while Hines was still in government. [1]
Hines joined Tether as strategic adviser in August 2025 and became CEO of its US arm the next month. The GENIUS Act passed Congress and was signed into law in July 2025, taking effect in January 2027. [1]
The departure of President Donald Trump's crypto adviser, Patrick Witt, leaves the digital assets office vacant and its policy aims uncertain. [2]
Sources
- Ex-Trump crypto adviser profited after helping pass stablecoin bill: WSJ
Cointelegraph · · Full text
- At the White House, crypto policy vacancy looms large
CoinDesk · · Summary only