According to the Wall Street Journal, Bo Hines, a former Trump crypto adviser who later joined stablecoin issuer Tether, kept a one-third stake in investment firm Nxum while pushing for passage of the GENIUS Act. Nxum received $6.3 million in a deal with Tether, with the first payment made while Hines was still in government. Hines reportedly kept Nxum partners updated on the bill via Signal and urged them to describe opposing Republican lawmakers as 'undermining the president.' He joined Tether in August 2025 and became CEO of its US arm the following month. The GENIUS Act, signed in July 2025, takes effect in January 2027, and the report comes amid accusations that Trump and those around him personally profit from laws they help shape; Tether had not immediately responded to Cointelegraph's request for comment.
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Original headline: White House Crypto Adviser Company Financially Benefitted from GENIUS Act : WSJ
Read the original on cointelegraph.com ↗
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