- Bo Hines held a one-third stake in Nxum while serving as a White House crypto adviser and pushing for the GENIUS Act stablecoin bill.
- Nxum received $6.3 million from Tether under a deal that saw its first payment while Hines was still in government.
- Hines joined Tether as a strategic adviser in August 2025 and became CEO of its US arm the following month.
- The GENIUS Act passed Congress and was signed into law in July 2025, with Hines in attendance and recognized by President Trump.
Former White House crypto adviser Bo Hines reportedly maintained a financial interest in a company that profited from the stablecoin bill he helped push through Congress in 2025. According to a Wall Street Journal report, Hines held a one-third stake in Nxum while serving in government and urging lawmakers to pass the GENIUS Act.
Nxum received $6.3 million from stablecoin issuer Tether, with the first payment arriving while Hines was still at the White House. He reportedly updated his Nxum partners on the bill’s progress via Signal and pressed them to label Republican opponents as undermining the president.
Hines joined Tether as a strategic adviser in August 2025 and became CEO of its US arm the following month. The GENIUS Act passed Congress and was signed into law in July 2025 at a ceremony Hines attended and where President Trump personally recognized him.
President Trump disclosed earning $1.4 billion from digital asset investments in 2025, including millions from his family’s crypto company World Liberty Financial. The stablecoin law is scheduled to take effect in January 2027 after rulemaking by multiple government agencies.
Several former government officials have transitioned to crypto industry roles. Former CFTC commissioner Summer Mersinger left her position early to become CEO of the Blockchain Association, and former CFTC senior counsel Kevin Webb joined Solidus Labs as vice president of policy, the company announced.
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