Donald Trump’s former crypto advisor, Bo Hines, today finds himself at the center of a controversy. And for good reason? The revelation of an agreement linking Tether to Nxum, a company in which he held a third. The amount involved reaches $6.3 million, according to a Wall Street Journal investigation published on October 15, 2026.
In brief
- Tether reportedly paid $6.3 million to Nxum, a company co-founded by Bo Hines, former crypto advisor to Donald Trump.
- Hines owned a third of Nxum while participating in the development of the GENIUS Act on stablecoins.
- Nxum disputes any involvement by Hines and no offense has been established.
$6.3 million deal with crypto company Tether
Nxum is a consulting company founded by Bo Hines in 2022. According to the Wall Street Journal report, it has collected approximately $6.3 million to develop a branding and public affairs plan for Tether. This is the issuer of the USDT stablecoin.
The deal was reportedly negotiated in May 2025 with payments set at 415,000 $ monthlyinvoiced in periods of six months over a minimum period of two years. They passed through Notorious, a marketing company run by Peter Vincer, before feeding into Nxum.
Bo Hines then retained a stake of approximately one third in Nxum. From January to August 2025, he simultaneously served as executive director of the White House crypto council.
Why does the chronology raise questions?
The controversy concerns the period during which these payments began. According to the information taken from the newspaper, first payment of approximately $2.49 million arrived while Hines was still involved in crafting the GENIUS Act.
This American law aims to create a regulatory framework for stablecoins. These are crypto assets whose value is supposed to remain aligned with the dollar. Along with USDT, Tether is one of the main actors concerned by this framework.
The Wall Street Journal also reports that Hines remained in contact with his associates at Nxum through Signal. He informed them of the progress of the text. These elements fuel questions about a possible conflict of interest. However, they have not yet established any infringement.
What Tether and Nxum are contesting in this crypto affair
A representative for Nxum told the newspaper that Bo Hines was neither informed nor involved in the company’s activity with Tether during his time at the White House. He also claims that Hines did not receive any funds from Tether during this period. He had no economic relationship with the crypto issuer.
After leaving the White House in August 2025, Hines joined Tether as a strategic advisor. The following month, he became general manager of the company’s American arm.
That’s not all! The published information does not demonstrate that Hines influenced crypto law for the benefit of Tether or Nxum. On the other hand, they highlight an overlap between:
- private participation;
- payments from an actor regulated by the future crypto law;
- a decisive public role in its adoption.
The case could therefore relaunch the debate on the ethics rules applicable to White House advisors in the digital assets sector (notably crypto). What happens next will depend on possible clarifications from the Wall Street Journal, official reactions from Tether and Nxum as well as a possible examination by the competent authorities. However, no official investigation has been confirmed at this stage.
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