Ex-Trump Crypto Adviser Bo Hines Profited from Stablecoin Bill He Helped Pass

A Wall Street Journal investigation has revealed that Bo Hines, a former crypto adviser to US President Donald Trump, maintained a financial stake in a company that profited from the passage of the GENIUS stablecoin bill while he was still serving at the White House. According to the report, Hines held a one-third stake in Nxum, the firm he co-founded, while actively lobbying US lawmakers to pass the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. During that same period, Nxum received $6.3 million through a deal with Tether, the issuer of the USDt (USDT) stablecoin, with the first payment processed while Hines was still in his government role.

The Wall Street Journal reported that Hines stayed in regular contact with his Nxum partners through the Signal messaging app, providing updates on the GENIUS Act's progress. He also allegedly urged a partner to characterize Republican lawmakers opposing the bill as "undermining the president" and "bought and paid for by democratic shills like Coinbase and a16z." Hines joined Tether as a "strategic adviser" in August 2025 and became CEO of the company's US arm the following month. The reported arrangement adds to ongoing scrutiny of allegations that Trump, his family, and his staff have personally profited from crypto-related legislation they helped draft and pass. Trump disclosed earning $1.4 billion from digital asset investments in 2025, including substantial sums from his family's crypto venture World Liberty Financial, which issues the USD1 stablecoin.

The GENIUS Act was signed into law in July 2025 during a White House ceremony attended by prominent crypto executives, including leadership from Tether and Circle. Hines was in attendance and personally recognized by Trump at the event. While the law is already enacted, it requires implementing rules from agencies including the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Treasury Department, with full effect scheduled for January 2027. The reported deal underscores concerns about the "revolving door" between US policymakers and the cryptocurrency industry, as Tether declined to comment when reached by Cointelegraph regarding the accusations in the WSJ report.