8h05 ▪ 4 min read ▪ by Ariela R.
Summarize this article with:
Donald Trump’s former crypto adviser, Bo Hines, is today at the center of a controversy. And why? The revelation of a deal linking Tether to Nxum, a company of which he owned one third. The amount involved reaches 6.3 million dollars, according to a Wall Street Journal investigation published on October 15, 2026.
In brief
- Tether is said to have paid $6.3M to Nxum, a company co-founded by Bo Hines, former crypto adviser to Donald Trump.
- Hines owned one third of Nxum while participating in the development of the GENIUS Act on stablecoins.
- Nxum denies any involvement of Hines and no offense has been established.
A $6.3 million deal with the crypto company Tether
Nxum is a consulting company founded by Bo Hines in 2022. According to the Wall Street Journal report, it received about 6.3 million dollars to develop a branding and public affairs plan for Tether. This is the issuer of the USDT stablecoin.
The deal was reportedly negotiated in May 2025 with payments set at $415,000 monthly, billed in six-month periods over a minimum duration of two years. They passed through Notorious, a marketing company led by Peter Vincer, before going to Nxum.
Bo Hines then retained about a one-third stake in Nxum. From January to August 2025, he concurrently held the position of executive director of the White House crypto council.
Why does the timeline raise questions?
The controversy concerns the period during which these payments began. According to the information sourced from the newspaper, the first payment of about 2.49 million dollars arrived while Hines was still involved in drafting the GENIUS Act.
This American law aims to create a regulatory framework for stablecoins. These are crypto assets whose value is supposed to stay aligned with the dollar. With USDT, Tether is among the main actors concerned by this framework.
The Wall Street Journal also indicates that Hines remained in contact with his Nxum associates via Signal. He kept them informed of the progress of the legislation. These elements feed questions about a possible conflict of interest. However, they do not currently establish any offense.
What Tether and Nxum deny in this crypto case
An Nxum representative told the newspaper that Bo Hines was neither informed nor involved in the company’s activity with Tether during his time at the White House. He also claims that Hines received no funds from Tether during that period. He had no economic relationship with the crypto issuer.
After his departure from the White House in August 2025, Hines joined Tether as a strategic adviser. The next month, he became CEO of the company’s American branch.
That’s not all! The published information does not demonstrate that Hines influenced crypto law to benefit Tether or Nxum. Instead, they highlight an overlap between:
- a private stake;
- payments from an actor regulated by the forthcoming crypto law;
- a public role crucial in its adoption.
The case could therefore revive the debate on ethical rules applicable to White House advisers in the digital asset sector (notably crypto). The outcome will depend on possible clarifications from the Wall Street Journal, official reactions from Tether and Nxum, as well as a possible review by the competent authorities. However, no official investigation has been confirmed at this time.
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Ariela R.
My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.