Former Trump crypto adviser profited from stablecoin bill, WSJ reports
According to The Wall Street Journal, Bo Hines held a stake in a firm that received $6.3 million from Tether while the GENIUS Act was being passed.
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what happened
The Wall Street Journal reported on Wednesday that Bo Hines, a former crypto adviser to US President Donald Trump, kept a one-third stake in Nxum, an investment firm he co-founded. According to the report, Nxum received $6.3 million under a deal with stablecoin issuer Tether, the company behind the USDT token, and the first payment arrived while Hines was still in government. The same period saw him push lawmakers to pass the GENIUS Act on stablecoins.
The newspaper also says Hines stayed in touch with his Nxum partners and updated them on the bill's progress over the Signal app. He allegedly urged them to describe Republican opponents of the legislation as "undermining the president." Cointelegraph said it contacted Tether for comment but had not received a reply by publication.
Hines joined Tether as a "strategic adviser" in August 2025 and became CEO of its US arm the following month.
why it matters
The report adds to scrutiny of conflicts of interest in US crypto policy. The GENIUS Act was signed in July 2025, but regulators must still write rules before it takes effect in January 2027, so developments involving stablecoin issuers remain closely watched by markets.
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- Ex-Trump crypto adviser profited after helping pass stablecoin bill: WSJ — cointelegraph.com, 15 October 2026 at 17:14 UTC
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