The Wall Street Journal: Tether delivered millions of dollars to Bo Hines Company

According to The Wall Street Journal, the stablecoin issuer Tether funneled millions of dollars to its co-owned company Nxum during Bo Hines' promotion of the stablecoin legislation Genius Act at the White House. After the bill passed, Tether hired Hines as the head of its U.S. operations.

In July 2025, lawmakers and executives watched Trump sign the Genius Act in the East Room of the White House. The bill sets rules for the sale of stablecoins pegged to the dollar. When Trump thanked the bill's drafters, he asked where Bo Hines was, and the 29-year-old presidential crypto advisor stood up from the front row to applause.

The Wall Street Journal reported that this information is based on messages, internal documents, and payment records it reviewed. Hines' Signal messages show that he continued to participate in group chats with company partners during his time at the White House, discussing legislative progress and relaying key points from the Genius Act conversations, while his partners communicated with Tether's CEO at the same time.