Former Trump Crypto Adviser Bo Hines Reportedly Profited From Stablecoin Law He Helped Push

A new report claims Bo Hines kept a financial stake in a firm that gained from the GENIUS Act while he was still working inside the White House, adding fuel to the debate over officials benefiting from crypto policy.

Bo Hines Nxum Stake and Tether Payments

The Wall Street Journal reported Wednesday that Hines held a one third stake in Nxum, the investment company he co-founded, while urging lawmakers to pass the GENIUS stablecoin bill. Nxum reportedly received $6.3 million through a deal with Tether, the issuer of USDT, and the first payment arrived while Hines was still in government. He allegedly updated his Nxum partners on the bill’s progress over Signal and told one of them to describe Republican opponents as undermining the president and bought by Democratic shills like Coinbase and a16z. Hines joined Tether as a strategic adviser in August 2025 and became CEO.

GENIUS Act Status and Trump Crypto Earnings

The ACT was signed in July 2025 at a ceremony where Trump personally recognized Hines. It still needs rules from the OCC, FDIC, Federal Reserve and Treasury, and takes effect in January 2027. The report adds to accusations that Trump’s circle profits from laws it helps shape. The president disclosed $1.4 billion in digital asset income for 2025, including millions from World Liberty Financial, the company behind the USD1 stablecoin.

Summer Mersinger left the CFTC three years before her term ended to lead the Blockchain Association. On Wednesday, Solidus Labs hired Kevin Webb, a former CFTC senior counsel, as vice president of policy, following Dawn Stump, who joined the firm as a strategic adviser in 2022.