Report says Tether-linked payments reached Hines's firm

A Wall Street Journal investigation reported that Nxum, an investment and consulting firm co-founded by former White House crypto adviser Bo Hines, received about $6.3 million through an arrangement with Tether, with its first payment made while Hines was still in government. Hines retained a one-third stake in Nxum during that period, according to the report. The reported payments overlapped with Hines’s work advancing the GENIUS Act, the federal stablecoin law signed in July 2025. The Journal reported that Hines remained in contact with Nxum partners about the legislation while serving as executive director of the White House’s digital assets council. The report raises questions about his financial interests during his government service, but the accounts of his involvement differ. Nxum said Hines had stepped away from its operations, was not involved in its Tether dealings and received no Tether-derived funds while in government. The firm also said his communications with partners concerned publicly available information. Tether did not immediately respond to requests for comment, according to the reports. The Journal’s account says the first installment was $2.49 million...