# Former Crypto Advisor Faces Scrutiny Over Tether Payments During Legislation Bo Hines allegedly received millions from Tether while shaping key stablecoin regulations. - **Source:** [Fortune](https://fortune.com) - **Published:** 2026-10-15 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/a9113c8d-7dbd-4cd0-8b15-3a81f7c1a4ec ## Regulatory Influence and Payments Bo Hines, a former White House crypto advisor, faces scrutiny regarding his firm Nxum. While Hines led the administration's push for the Genius Act, a stablecoin regulation bill, his firm received $6.3 million from Tether. This financial arrangement occurred while he held a one-third ownership stake in the consulting company. ## The Genius Act Timeline Hines served as a key figure in the White House during the development of the Genius Act. The legislation, which regulates dollar-pegged cryptocurrencies, was signed into law by President Donald Trump in July 2025. Hines departed the administration just weeks after the bill was finalized, joining Tether's U.S. division shortly thereafter. ## Nxum Firm Structure Founded in 2022, Nxum was co-owned by Bo Hines, his father Todd Hines, and Gary Dennis. The firm's operations included media and consulting services. Notably, the company employed Nav Singh, who previously served a 21-month prison sentence following a 2018 guilty plea for fraud involving a New York state pension fund. ## Tether Deal Mechanics In April 2025, a meeting between Tether CEO Paolo Ardoino and Nxum partners was arranged near Central Park. Although a contract was signed through an intermediary agency called Notorious, internal documents confirmed that Nxum was expected to lead the strategic brand and public affairs work for the stablecoin issuer throughout the process. ## Political and Financial Ties Nxum’s activities extended beyond Tether, including the creation of a Trump-themed memecoin called Restore the Republic. The firm also contributed $1 million in billboard advertisements to MAGA Inc., a super PAC supporting the president. These actions highlight the intersection of private business interests and political advocacy within the current administration. ## Broader Conflict Concerns The controversy surrounding Hines adds to existing questions regarding potential conflicts of interest within the Trump administration. President Trump has actively championed the crypto industry, while his family launched ventures like World Liberty Financial. Recent financial disclosures revealed that the president holds approximately $1.4 billion in various crypto-related wealth assets. ## Strategic Lobbying Omissions The final agreement between Tether and the intermediary firm omitted explicit references to lobbying activities. Despite this, planning documentation explicitly stated that Nxum would engage all necessary parties and lead the entire process. This discrepancy raises questions about the transparency of the consulting work performed while the Genius Act was active. ## Implications for Crypto Policy This investigation underscores the risks associated with revolving-door policies between government advisors and the private sector. As the administration continues to push for crypto-friendly legislation, the financial links between advisors and industry giants like Tether remain a focal point for those monitoring potential ethical breaches in federal policy development processes. ## Sources covering this story - https://fortune.com/2026/10/15/trump-former-top-crypto-adviser-scrutiny-allegations-firm-millions-tether-stablecoin-law/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._