From Coinpedia · By Anjali Belgaumkar
Tether paid more than $6 million to Nxum, a consulting firm co-founded by former White House crypto adviser Bo Hines, while he was working to advance the GENIUS Act, according to a Wall Street Journal investigation. The newspaper cited internal documents, messages and payment records showing the money was divided among Nxum’s three partners. Hines kept a stake in the firm. He had stepped back from daily operations but still discussed the stablecoin bill with his partners over Signal while in office, the report said. The GENIUS Act was signed into law in July 2025. Hines left his White House post that August and became CEO of Tether’s US stablecoin business in September. The sequence has raised conflict-of-interest questions.
TagsCrypto news Show More Was this writing helpful?
Tell us why!
Story Ends Here Previous Article : Why Bitcoin’s Next Target Could Be $93,000
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.