According to The Wall Street Journal, Tether paid more than $6 million to consulting firm Nxum, one-third of which was owned by Donald Trump’s crypto adviser Bo Hines.
The agreement was signed in May 2025. The first payment was made while Hines was still working at the White House and helping promote the GENIUS Act.
Hines officially stepped away from managing Nxum, but continued discussing the bill with partners via Signal. The company says he did not work with Tether while in public service.
Trump signed the GENIUS Act in July 2025. Hines left the White House in August and, in September, became head of Tether’s stablecoin business in the U.S.
The WSJ points to a potential conflict of interest but does not claim that Hines broke the law.
Continue reading this article on source: wsj.com