Tether Paid Bo Hines' Company Millions While He Held White House Post
Payments flowed to advisor's firm during government service
Tether, the issuer of the world's largest stablecoin, paid $6.3 million to a company co-founded by Bo Hines while he was serving in the White House, according to a Wall Street Journal report published Oct. 15.
Hines was President Donald Trump's executive director of the President's Council of Advisers on Digital Assets. He later became CEO of USAT, a Tether-backed stablecoin.
The payments went to Nxum Capital, an investment and consulting firm Hines started with his father. The money came through an intermediary, Peter Vincer, who runs a firm called Notorious.
What the payments covered
Nxum was hired to create a "strategic brand and public affairs plan" for Tether, the Journal reported.
The first payment of $2.49 million in USDT was sent from a Bitfinex wallet on May 11, 2025, according to the report. Blockchain data shows the funds moved from a Bitfinex hot wallet to Vincer's address. Vincer kept $498,000 and sent the rest to Nxum, where it was split three ways.
Vincer told the Journal he acted as an intermediary for the deal. After Hines left the White House, the contract was transferred directly to Nxum.
Nxum denies Hines received funds during White House tenure
A representative for Nxum told the Journal that Hines "did not receive any Tether-derived funds during that period, and had no economic relationship of any kind with Tether while serving in the White House." The article notes that while Hines was at the White House, he was still exchanging Signal messages with his company partners and shared details about the Genius Act with Nxum leaders working with Tether.
Political ties and the Genius Act
Nxum has also been involved in politics through the Fellowship PAC, a super PAC chaired by Jesse Spiro, Tether's head of government affairs. The PAC has raised $11 million — $10 million from Cantor Fitzgerald and the rest from Anchor Labs, associated with Anchorage Digital, the bank behind USAT.
The Fellowship PAC has paid out $11 million to Nxum, with a $300,000 refund noted in Federal Election Commission filings.
The Genius Act, legislation aimed at regulating stablecoins, was signed into law in July 2025. Tether CEO Paolo Ardoino appeared at the White House to show support. Hines left the White House the following month, and was later announced as CEO of USAT.
What remains unclear
The exact timing and structure of payments between Tether and Nxum during Hines' White House service has not been independently verified beyond the Journal's reporting. Protos reached out to Tether for comment but did not receive an immediate response. Nxum's contact email is no longer working.
Why this matters for crypto regulation
The report raises questions about the relationship between Tether and Trump administration officials shaping crypto policy. Hines helped advance stablecoin legislation while his company was simultaneously being paid by Tether, the largest stablecoin issuer. The timing — with the Genius Act signed just months before Hines left the White House and later took a leadership role at Tether — has drawn attention.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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