Tether reportedly paid $6 million to Bo Hines-linked firm

A Wall Street Journal investigation reports that Tether paid approximately $6.3 million to Nxum, a consulting firm co-founded by Bo Hines, while Hines was serving as a White House crypto adviser.

Hines served as the executive director of the President’s Council of Advisers on Digital Assets during the push for the GENIUS Act, which was signed into law in July 2025. Although Hines had stepped back from daily operations at Nxum in early 2025, ethics disclosures indicate he maintained a one-third stake in the company.

The payments were reportedly routed through a marketing intermediary, Notorious, which held a contract with Tether. Blockchain records and internal documents suggest the first installment of $2.49 million was paid in May 2025, prior to the passage of the GENIUS Act. Following his departure from the White House in August 2025, Hines was hired to lead Tether’s new U.S. division in September 2025. The timeline has raised questions regarding potential conflicts of interest.