Tether paid millions to Bo Hines’ firm while he worked at the White House

What happened

Hines later joined Tether and now runs its US operations. What the Journal found The firm is called Nxum.

15, 2026 Tether sent approximately $6.3 million to a consulting firm co-founded by Bo Hines, according to The Wall Street Journal. At least part of that money moved while Hines was still working in the White House.

The sequence is drawing conflict-of-interest scrutiny, because Hines helped advance the stablecoin (a digital token meant to hold a fixed value, usually one dollar) law that now governs companies like his new employer. The Journal reported that Hines co-founded it and held a one-third ownership stake throughout his time in government.

Tether’s payments to Nxum came under a deal brokered in May 2025. The first payment landed while Hines still held his government post.

His job at the time was executive director of the White House’s digital assets council, a role he held from January to August 2025. Advertisement The Journal’s reporting draws on internal documents and payment records.

Key facts

• What the Journal — found: The firm is called Nxum