This week, the WSJ revealed: The man who helped write America’s stablecoin rules received $6.3 million from the issuer of $USDT
Let’s go through the timeline—it gets more surreal the more you look:
◆ January–August 2025: Bo Hines served as executive director of the White House Digital Assets Council and championed the GENIUS Act—the first federal framework for stablecoins in the U.S. It was signed into law in July 2025, requiring stablecoin issuers to follow its rules.
◆ May 2025: Tether hired Nxum, a consulting firm co-founded by Hines, through a marketing company. Hines owned a one-third stake. The first payment of $2.49 million arrived on May 11—while Hines was still working at the White House.
◆ August 2025: Hines left his post. That same month, he joined Tether as a strategic adviser; the following month, he was promoted straight to CEO of its U.S. division. The law he helped write now regulates the very company he works for.
◆ This week: The WSJ obtained internal chat logs showing that, while in office, Hines gave a company partner real-time updates on the GENIUS Act’s progress over Signal. Nxum responded that he “was not involved in Tether matters” while at the White House.
My take: There’s never a wall between the rulemakers and the people they regulate—just a revolving door with a spring on it. One spin: $6.3 million.
Do you think this revolving door was an accident or by design? Comment A for accident / B for by design.
Personal opinion only; this is not investment advice.
#USDT #Stablecoin
Let’s go through the timeline—it gets more surreal the more you look:
◆ January–August 2025: Bo Hines served as executive director of the White House Digital Assets Council and championed the GENIUS Act—the first federal framework for stablecoins in the U.S. It was signed into law in July 2025, requiring stablecoin issuers to follow its rules.
◆ May 2025: Tether hired Nxum, a consulting firm co-founded by Hines, through a marketing company. Hines owned a one-third stake. The first payment of $2.49 million arrived on May 11—while Hines was still working at the White House.
◆ August 2025: Hines left his post. That same month, he joined Tether as a strategic adviser; the following month, he was promoted straight to CEO of its U.S. division. The law he helped write now regulates the very company he works for.
◆ This week: The WSJ obtained internal chat logs showing that, while in office, Hines gave a company partner real-time updates on the GENIUS Act’s progress over Signal. Nxum responded that he “was not involved in Tether matters” while at the White House.
My take: There’s never a wall between the rulemakers and the people they regulate—just a revolving door with a spring on it. One spin: $6.3 million.
Do you think this revolving door was an accident or by design? Comment A for accident / B for by design.
Personal opinion only; this is not investment advice.
#USDT #Stablecoin