A Wall Street Journal investigation links Tether to about $6.3 million paid to a consulting firm Bo Hines co-owned while he shaped the GENIUS Act.
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Tether's payments reportedly began in May 2025 while Hines led the White House stablecoin effort, with the first one going to an intermediary's marketing company.
A Wall Street Journal investigation alleges that Tether paid approximately $6.3 million to a consulting firm partly owned by Bo Hines while he served as a senior White House cryptocurrency official. Hines helped advance the GENIUS Act, legislation with major implications for Tether, before leaving government to become the stablecoin issuer's U.S. chief executive.
Tether has released a 254 million parameter speech recognition model that can transcribe conversations directly on smartphones, smart glasses and humanoid robots without sending audio to cloud servers.
Tether has reportedly paid $6.3 million through an arrangement involving a consulting firm co-owned by former White House cryptocurrency adviser Bo Hines, with the first payment arriving while he was helping advance federal stablecoin legislation.
Nxum, co-founded by former White House crypto adviser Bo Hines, shared the payments among its three partners.
The scrutiny over Hines' dual roles may undermine trust in stablecoin regulations and impact Tether's US market expansion efforts. Tether paid millions to Bo Hines' firm while he worked at the White House.
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