WSJ Report Says Tether Paid $6 Million To Bo Hines-Linked Firm During GENIUS Act Push

Published by

Anjali Belgaumkar

October 15, 2026

Tether paid more than $6 million to Nxum, a consulting firm co-founded by former White House crypto adviser Bo Hines, while he was working to advance the GENIUS Act, according to a Wall Street Journal investigation. The newspaper cited internal documents, messages and payment records showing the money was divided among Nxum’s three partners. Hines kept a stake in the firm. He had stepped back from daily operations but still discussed the stablecoin bill with his partners over Signal while in office, the report said. The GENIUS Act was signed into law in July 2025. Hines left his White House post that August and became CEO of Tether’s US stablecoin business in September. The sequence has raised conflict-of-interest questions.

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